(From the Todd Akin campaign)
Today the Akin Campaign released details showing that Claire McCaskill's claims that federal subsidies did not benefit her family are simply untrue. McCaskill has claimed that profit was not made off affordable housing units, but that any profit came from non-subsidized units. Unsurprisingly, this is simply not true. Here are two examples of McCaskill making significant profits on properties that only contain subsidized housing units:
Heritage Manor Apartments in Park Hills, MO: McCaskill’s personal financial disclosure lists $201-$1000 in income from Heritage Manor LP in Flat River, MO. This company has received more than $182,000 in federal subsidies since 2008. According to the USDA’s “rental property information” website, the complex consists of 12 units, and all 12 are subsidized.
Putney First LP in Putney, VT: McCaskill’s personal financial disclosure lists $50,000-$100,000 in income from Putney First, LP. This company has received more than $668,000 in federal subsidies since 2008. According to the USDA’s “rental property information” website, Putney Meadows Apts (which is associated with Putney First LP) consists of 28 units, and all 28 are subsidized.
The simple fact is that Claire McCaskill is making money off of properties that are solely subsidized housing. She may claim this isn't true, but the facts state otherwise. In addition, any taxpayer dollar that goes to "operating and maintaining" these properties means more profit for McCaskill.
McCaskill's claims:
McCaskill's "campaign said the federal subsidies went into a special property account for the low-income units, which under federal regulations can only be used for operations, maintenance and improvements to the housing developments — not redirected as personal profits." Associated Press, 10/10/2012
"But McCaskill’s campaign has said many of those businesses also have other income sources, and that none of the federal subsidies wound up in the family’s personal bank accounts. Her campaign cited regulations by the U.S. Department of Agriculture — which administers one of the housing programs — requiring that the subsidies be used for operating and maintaining the housing facilities." Associated Press, 10/11/2012
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