So let me ask you this because you're still a business man and you're into make money right so when you're doing these projects and

50%

Of the housing is going to low or middle income or you just talked about where you can buy in this

Basel for your income

So how you make it money off of this the city gives you subsidies

To subsidize the price or like if somebody should be paying 4,000

But they're only paying 1,000 is the city subsidized?

Absolutely 3000 dollars absolutely. So what happened is you there's two types of subsidies capital subsidy and there's rental subsidy

so

So capital subsidy works like this like you know we're doing a development and

It costs 10 million to do the development right

But that development can only support 6 million of

Of debt or 6 million of capital because of the depressed costs the city's gonna put in the additional subsidy

It's a very simplistic way to look at it. That's kind of how it works and how we get paid is when you create that

That budget our fees part of the budget. So it's like it's right is baked right in so it's like a building cost 10 million

You have 6 million the city will put the other 4 million in for you

But for them putting 4 million in for you

They're gonna say we need 30% of the market rate. So then the math it works out. It's kind of like an even exchange

That's right right right right right they subsidize the city has to subsidize

the

Building and the operations of affordable housing because otherwise it wouldn't work

What's the what's how much do you need to have an affordable housing building like 20% 30% like a percentage?

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