I'll breathlessly await your explanation of your connection to Murphy. In the meantime, I thought the voters approved a 15-year amortization for the debt, not the 20 we have now. And as for mini-dorms, "initiating discussion" isn't an answer, and the paseo project won't do diddly. Enforcing codes and implementing the rooming ord might do something, but we still need more. I'll give you the three balls this time around.

Posted by Larry | reply to this comment
August 10, 2007 5:58 am

April-if you think future (read specultive) revnue is going to cover the pension problem (in this down real etsate market we could have MAJOR negative amotization BIGTIME!)I think you are living in dreamland. 1) the gov welfare queens have all but laid down the battle axe that they ARE NOT willing to give up the DB retirement-they know a good scam when the see one because they are retiring at age 50 making more money than when they worked. 2) As MORE City employees retire witht the Cadillac pensions, that pension debt will grow at an exponential rate, it simply cannot be sustained. So, I think you are way off base by stating that the pension debt is stabilized, maybe today but not tomorrow or in the futre-and that means we will be in negative amoritzation all over again.....Jack McGrory said what you're saying- the pensions could be sustained-BIG MISTAKE.

Posted by Billy Bob Henry | reply to this comment
August 10, 2007 10:33 am

Regarding your "mini-dorm" comment.. Are you aware of what the proposed Rooming House ordinance would do to us in Single family homes in Del Cerro? So you are against my ability to rent out a portion of my home to my parents (not that I would make them pay rent...but what if)? What about their caretakers as they age? What happens if I rent a room or two to the SDSU language academy students once my kids go to college? I am not proposing to be an absent landlord, just trying to stay in my home within the City Limits

Posted by Del Cerro family | reply to this comment
August 10, 2007 11:57 am

April, please go to my blog of May 8, 2007, link link You will see that you are mistaken - we have not got to "the point of no negative amortization" nor will the debt start to decrease "in approximately two years" as you say. In fact it will not start to decrease until 2019! In addition to being a Realtor I also happen to be an accountant (albeit of the London variety, long ago). You might want to inform Pam Hardy who has also imbibed the Mayor's spin without checking.

Posted by Pat Flannery | reply to this comment
August 10, 2007 12:56 pm

Del Cerro Family, 1. Renting to your mother would not count because you are operating a single family residence with a single economic unit (single family). As for renting to two SDSU students, the roominghouse ordinance allows three rental agreements. If you decide to have four SDSU students you would have to apply for a variance which would require approval from your neighbors. I am sure you are nice to your neighbors and it would not be a problem for them to grant you permission to do so.

Posted by Landlord and Resident | reply to this comment
August 11, 2007 1:11 pm

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