In Marin, we have the same problem. It has to do with lack of developers, not lack of capital. Best strategy is to find new developers who are not motivated by profit. Didn’t Benioff just donate a bunch of money to keep people in their building? That seems like the best approach.
When Marin voters care enough to directly finance themselves or identify another funding source for that 300K per affordable unit, and then expedite the entitlement process, maybe they will identify some developers.
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When I was referring to “you,” I wasn’t saying you, Lili, I was saying figurative you, as in Marin & Marin County’s policies over the last half-century.
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There are robust non-profit developers that are supposed to serve and operate all over the state of California, but they tend to operate in locations where they know they can get the taxpayer/public local subsidy they need + the entitlements for low-income housing.
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