HomeMy WebLinkAbout4/18/2023 Item 6b, Price
Barry Price <
To:E-mail Council Website
Subject:Agenda Item 6b, April 18, 2023 meeting
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Dear Council,
I regret that I cannot address you in person at tonight’s meeting. Nonetheless, I’d like to continue exploring some ideas
we’ve discussed at prior meetings regarding affordable housing in the City, particularly as it might affect the budget
priorities currently under discussion. These comments particularly refer to Table 1c: Housing and Homelessness Major
City Goal Work Program, and Strategic Approach #3.1, Housing Element Implementation.
I applaud your inclusion of this work program. I also appreciate Community Development Director Codron's response to
my comments at your last meeting, which relate to these comments. I am especially grateful that he confirmed that the
housing market is not and will not deliver the moderate- to low-cost housing the City is obligated to produce. To meet
those obligations, the City will have to take additional steps to preserve and protect the existing stock of low-cost
housing and add more low-cost options through acquisition preservation, down payment assistance, "first right of offer"
policies, and other programs and policies.
Director Codron noted astutely that revenue sources not currently reflected in the financial plan will be needed for the
City to make the kinds of investments necessary to achieve those goals, and I would add that tax policy has long
been used as a lever in the housing market. I ask that the City therefore take the steps needed to enact a
vacancy tax on both residential and commercial property, a transfer tax on high-end properties, and a tax on
domiciles not occupied by owners. The increased revenues should be used to develop subsidized housing,
advance racial equity, promote upward mobility, and address the climate catastrophe.
Thank you for considering my views. I would be pleased to get down into the weeds with staff if you are so
inclined.
Barry Price
(559) 284-0449
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