@GavinNewsom needs to propose a Warren-like wealth tax in California.
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Here's how the CCSF's BMR program manual describes it:pic.twitter.com/Pnx17Qc2y0
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Good argument for cost-based social housing.
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SF’s rent control allows annual base rent increases of 60% of national CPI, whereas Inclusionary Housing rents rise along with Unadjusted Area Median Income for the San Francisco Area (SF, Marin, San Mateo). So as below-median income households are displaced, SF’s IH rents go up.
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You could also just say that when occupied units recertify, they have to base the max rent on what a current resident's new percent of AMI is. So if they fall into a lower category, their rent could conceivably even go down. But that's pretty radical, even if justifiable.
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The administrative work there seems high. Cleaner just to have a CPI or 2% increase a la private RC units.
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It’s the technical weeds of housing policy. Even those of us who have followed it for 40 years lose the details.
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It's really important, though. Not esoterica. It creates a permanent "displacement treadmill".https://48hills.org/2017/05/why-housing-quotas-lead-to-displacement/ …
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Also, there is huge problem with condo fees in BMR condos. On-site Affordable in Market Rate buildings isn't a great program, imo. Much better to fee-out into MOH to build 100% Affordable Housing, since they don't have these kinds of issues.
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