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East Palo Alto weighs proposed policy that aims to secure long-term affordable housing

Original post made on Dec 12, 2021

On Tuesday, the City Council was set to hold a hearing on an ordinance that would give tenants, affordable housing nonprofits and the city the right of first offer to purchase residential properties.

Read the full story here Web Link posted Tuesday, December 7, 2021, 1:27 PM

Comments (3)

Posted by Optimist Pessimist Realist
a resident of East Palo Alto
on Dec 12, 2021 at 3:07 pm

Optimist Pessimist Realist is a registered user.

From what I’ve heard listening to gentrifier property owners they get so much wrong about this potential law. It’s either on purpose or from ignorance. Then when correct information is given the same people refuse to acknowledge it.

Posted by EPA resident
a resident of East Palo Alto
on Jan 13, 2022 at 4:16 pm

EPA resident is a registered user.

Some questions:
1. If OPA will let the tenant to buy at the current market price as city claimed.
Why can't the tenant, maybe partner with nonprofits to do so now without the OPA? California law says owners must give tenants 60 days notice if they want to sell, so tenants and non profits can have 2 months to get pre-approval before it hits the market. These logically contradicting claims that city pushed so hard are the reason why people think this will bring down home values, not the flyers from BAHN or Mr.Danin)

2. Nora the RE economist said: Because funds are limited, non profits will only be able to buy very limited number of housing at market price, so the city's property tax loss would be immaterial.
So this economist that speak for the city is admitting OPA won't convert much existing housing into affordable housing, not to mention it will create 0 new affordable housing? What's the point then?

3. absentees owners or not, all landlord are paying city property tax as well as providing rental housing supply to EPA, they should be a stakeholder and be part of the discussion too.
But city choose to villianfy these tax payers that are funding the city and just call them lying Trumpian ? So their punishment from the OPA is justified ???

4.Corporate landlord like woodland park that owns thousands of units are not impacted by OPA at all but mom and pop landlord that own 1 house are subjected to it. How is it fair???

Posted by Online Name
a resident of Embarcadero Oaks/Leland
on Jan 13, 2022 at 4:19 pm

Online Name is a registered user.

What's a "gentrifier property owner"?

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