Newell: Affordable housing amendment is a "recipe for disaster"

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It's number four on your ballot - the New Orleans Affordable Housing Property Tax Exemption Amendment is a result of Senate bills authored by Troy Carter, who I've had on the show a couple of times. As a result of our conversations, he actually amended these bills to put them in a better posture. But one of the observations I made was this - we're voting on an Amendment that says nothing. Zilch. Nada.The Amendment talks about an ideology in regard to affordable housing. Who isn't for affordable housing? I would love for everyone to be able to afford their own home, but that's not reality.Here's the full text of the amendment.(O)(1) Notwithstanding any provision in this constitution to the contrary, and in accordance with procedures and conditions provided by law, the City of New Orleans may exempt properties comprised of no more than fifteen residential units located within Orleans Parish from ad valorem taxes for the purpose of promoting and encouraging affordable housing. The exemption may provide an exemption from ad valorem tax for the total assessed value of the property, or a portion thereof, or may grant the right to pay ad valorem taxes based upon the assessed valuation of the property for the year prior to the commencement of the exemption. Properties used as rentals for periods of less than thirty days shall not be eligible for any ad valorem tax exemption pursuant to this Paragraph.