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1/5 I have so much respect for Rev Harris. His points are right and his heart is in exactly the right place. At the same time, there is so much information in this article that is out of context @FOXNashville. Please try to provide that context for viewers fox17.com/news/local/nas…
2/5 Gentrification is caused by capitalism/private market, not Metro, and #StateLeg preemption has overruled Metro Council’s ability to regulate or shape the private real estate market. Homeowners in gentrifying communities are seeing asset equity gains and profits when selling.
3/5 Living single is expensive in urban areas. I know: I am a single-income householder. This is an unfortunate reality but not unique to Nashville.
4/5 In 2017 the Council lowered our county’s property tax rate by ~30% which erased about $400M of recurring revenue, which is why our city struggles to pay for basic services. This property tax rate reduction mitigated mortgage escrow and rent increases in gentrifying areas.
5/5 And yes, there are Nashvillians at Soundwaves: the project generated new jobs as well as provided a net gain in property taxes, not to mention new sales and hotel occupancy taxes. Those tax collections benefit our budget and provide jobs, including through #OpportunityNow.
