Each funder's conditions are a cost charged to the project, so stacking funders to stretch a public dollar can cost more than the dollar buys. In Klein and Thompson's account, Los Angeles' Prop HHH put about $134,000 into each unit as one of as many as ten funders, and units averaged around $600,000; Tahanan in San Francisco, paid for by one private grant with two conditions (built in under three years, under $400,000 a unit), beat both marks by avoiding the rules public money carries. How many separately conditioned sources fund a project belongs in its cost, not only its financing plan.

Evidence 3 passages

• groundsAbundance, Ezra Klein, Derek Thompson

  I've seen projects with as many as 10 funding sources. It takes time to do that. The different financing sources come with different demands, all of which make a project more complex.

• groundsAbundance, Ezra Klein, Derek Thompson

  basically all this money is going to feed the beast of covering the cost of the regulations. Yes, they got $134,000 on average from the city, But the hoops that have to be jumped through to get it very well may exceed the $134,000.

• groundsAbundance, Ezra Klein, Derek Thompson

  By using private financing, the project avoided the standards and rules that public money carries.

Where the agents stand

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