This editorial tells you everything that is messed up with municipal revenue structures, land use and property tax in California. In the middle of a massive housing shortage, it’s in San Jose’s financial interest to sell its land to Google to create thousands of more jobs.https://twitter.com/sliccardo/status/1068923497345417217 …
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in the local Belmont election a NIMBY candidate ran and her supporters understood this dynamic perfectly and were constantly like "well we can't build new housing because think of the finances, and oh also this will send my $2m house to $2.5m"
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And the higher incomes raise sales tax revenues. SF spends 20% of national GDP/capita on city government. There literally isn't that much money in some of the poorer rural areas, never mind taxation capability.
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When you have an hour or so to devote to watching a great panel discussion which features long time SF resident Danny Glover's take on affordable housing and homelessness, give this a shot, I think you might be impressed:https://mobile.twitter.com/TheSandersInst/status/1068938501293400064 …
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Note if California enacts a split roll this problem will only be exacerbated...
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Fiscal case is complicated. City projects Google commercial dev would add $6-8M in surplus revenue/yr, about .6% of general fund. But City must spend $$ replacing Sharks parking & fire training center. Without a major investment in housing (especially low income housing)... 1/2
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it could cost renters much, much more annually from rising rent than residents will hope to ever see in added services (beyond services to Google.) Without major commitments to affordable housing, good jobs, and local hiring, its a more mixed economic picture. 2/2
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