MILITARY HOUSING confd from p. 77
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engineered for
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durability
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Re-check These Features:
y/ Customer-Appeal y/ Modest Cost y/ Quick Delivery y/ Less Job-Site Problems V No maintenance factors
Send for technical data and name of your nearest Peterson Window representative.
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PETERSON WINDOW CORPORATION Dept. 7B 720 Livernois St., Ferndale, Michigan
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housing that was programmed under Title IX and some under Sec. 203."¯
The armed forces disagreed.
The new law led FHA to create a new Sec. 809 for this first sale housing under Title VIII. The terms and regulations will be about the same as for Sec. 203, except that Congress specifically ordered FHA to waive economic soundness in backing the mortgages. Thus, the Pentagon can write its own ticket on how many homes should be FHA insured.
Supreme Court upholds tax on Wherry housing
The door has been opened for local governments to levy taxes on privately operated Wherry housing projects on military base-” much to the dismay of the Pentagon.
The US Supreme Court, in a precedent setting 5-4 decision, ruled that Sarpy County, Neb. can collect personal property taxes from the Offutt Housing Co., owner and operator of Wherry units on the Offutt Air Force Base.
Cried one flabbergasted Air Force housing man: "It is the biggest morale buster of a generation. Military families simply can't afford to pay the additional rents that would be made necessary by local taxes. The result could be that many projects will be put out of business."¯
(Though the Offutt case concerned only a personal property tax, the Pentagon believes the decision is so sweeping that it opens the door to a tax on the leasehold as well as the property. The exact situation would vary from state to state, depending upon state tax laws. There are 159 Wherry projects, with 53,339 units.)
Key point in the Supreme Court's opinion was failure of Congress to specify in the Wherry act whether local governments would have taxing power over the military units. "We do not hold that Congress has relinquished power over these areas,"¯ Justice Felix Frankfurter wrote. "We hold only that Congress, in the exercise of this power, has permitted such state taxation as is involved in the present case."¯
Centex, biggest builder, wins military housing job
Home builders- faced with dwindling sales prospects in their normal market-”are turning to military housing.
Winning bidder on a 500-unit job at Eglin Field, Fla., last month was Centex Construction Co. of Dallas. Tom Lively's firm was the biggest home builder of 1955, according to House & Home's annual survey (H&H, Feb.). Centex bid $6,500,000 $100,000 under FHA's estimated replacement cost. Centex President Lively said that his firm with its civilian house production cut back 50% (see p. 44) will bid on Capehart projects throughout the country.
Builders in other areas where Capehart projects are planned are forming syndicates to bid on jobs too big for just one.
The gilt-edged nature of the Capehart mortgages was again pointed up when the Eglin and Ft. Bragg mortgages brought premiums, reportedly 1 or lĀ½ point each. (Brokers declined to give the exact price.)