Read the full story here Web Link posted Tuesday, December 7, 2021, 1:27 PM
Town Square
East Palo Alto weighs proposed policy that aims to secure long-term affordable housing
Original post made on Dec 12, 2021
Read the full story here Web Link posted Tuesday, December 7, 2021, 1:27 PM
Comments (3)
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.
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???
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"?
Don't miss out
on the discussion!
Sign up to be notified of new comments on this topic.
Post a comment
Stay informed.
Get the day's top headlines from Palo Alto Online sent to your inbox in the Express newsletter.
How quickly will we electrify our homes?
By Sherry Listgarten | 13 comments | 2,537 views
Everything Falls – Lessons in Souffle
By Laura Stec | 6 comments | 1,415 views
Sulbing Cafe brings internationally popular shaved ice dessert to Santa Clara
By The Peninsula Foodist | 0 comments | 1,260 views