A Bay Area developer wants to build 4,400 homes where they may be sorely needed
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Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#2>> “We’re a small town,” City Councilman W. Clarke Conway said at a meeting on the project last fall, “and we’re a small town by choice.”
>> Last year, Brisbane hired a consultant who found that the city would net $1 million a year in tax revenue by approving the Baylands. But if the city instead approved a project with lots more commercial space, a larger hotel and no housing, Brisbane would gain $9 million annually — an amount equivalent to more than half the city’s current day-to-day operating budget.
>> “I’d like to think if just the fiscal incentives were reversed, if a city could make as much money off housing as they could retail, we’d be having a very different conversation in California,” Stivers said.
>> “I see a lot of stuff,” Dettmer said. “I see beds in garages. You have to increase the [housing] supply. If you really want to help out people, let them live in dignity. It just seems like a no-brainer.”
>> “I do feel sorry that the younger generation is not going to get to live the life that we did,” she said. “But it’s a different time.”
These were the quotes that stood out to me. It seems like, for various reasons, the only benefit to existing residents and policy makers is "we may be able to help other people". That's not enough of an incentive.
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#3This has been going around, but even this plan to build 4400 dwellings is still total nonsense, because the plan also includes office space for 15000 people. 15000 jobs requires much more than 4400 dwellings, so this plan will just make things worse.
I recommend comparing and contrasting with this plan for Coyote Valley, to see what real urbanism looks like. http://www.greenbelt.org/wp-content/uploads/2012/01/Coyote-V...
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#4>> “We’re a small town,” City Councilman W. Clarke Conway said at a meeting on the project last fall, “and we’re a small town by choice.” >> Last year, Brisbane hired a consultant who found that the city would net $1 million a year in tax revenue by approving the Baylands. But if the city instead approved a project with lots more commercial space, a larger hotel and no housing, Brisbane would gain $9 million annually…
Those numbers don't make a lot of sense. Wouldn't 4400 homes generate something in the vicinity of 50 million dollars in annual property taxes?
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#5>> “We’re a small town,” City Councilman W. Clarke Conway said at a meeting on the project last fall, “and we’re a small town by choice.” >> Last year, Brisbane hired a consultant who found that the city would net $1 million a year in tax revenue by approving the Baylands. But if the city instead approved a project with lots more commercial space, a larger hotel and no housing, Brisbane would gain $9 million annually…
Those numbers don't make a lot of sense. Wouldn't 4400 homes generate something in the vicinity of 50 million dollars in annual property taxes?
who gets that property taxes??
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#6>> “We’re a small town,” City Councilman W. Clarke Conway said at a meeting on the project last fall, “and we’re a small town by choice.” >> Last year, Brisbane hired a consultant who found that the city would net $1 million a year in tax revenue by approving the Baylands. But if the city instead approved a project with lots more commercial space, a larger hotel and no housing, Brisbane would gain $9 million annually…
I think to the planners who make these decisions, helping people is simply a positive externality.
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#7>> “We’re a small town,” City Councilman W. Clarke Conway said at a meeting on the project last fall, “and we’re a small town by choice.” >> Last year, Brisbane hired a consultant who found that the city would net $1 million a year in tax revenue by approving the Baylands. But if the city instead approved a project with lots more commercial space, a larger hotel and no housing, Brisbane would gain $9 million annually…
A "small town" ... 7 miles from the center of a major global city and metro area ... even closer to a major international airport. These people are assholes.
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#8>> “We’re a small town,” City Councilman W. Clarke Conway said at a meeting on the project last fall, “and we’re a small town by choice.” >> Last year, Brisbane hired a consultant who found that the city would net $1 million a year in tax revenue by approving the Baylands. But if the city instead approved a project with lots more commercial space, a larger hotel and no housing, Brisbane would gain $9 million annually…
Those numbers don't make a lot of sense. Wouldn't 4400 homes generate something in the vicinity of 50 million dollars in annual property taxes?
If you assume that the property tax on those homes was .011, which is the 1% baseline plus possible voter-approved add-ons, you get $48.4 million per $1 million of value of the average home among the 4400. I paged through the report that is linked to the article [1] and it says that about $9.5 million is the city's share of the property tax revenue (table on page 14 of the consultant's report). So there's a gap to be understood.
[1] http://brisbaneca.org/sites/default/files/ccBaylandsHearing_...
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#9How could the net increase in tax revenue only be $1M?
At 4400 units, that would be only be $227 per unit per year.
While prop 13 limits increases, for new units, they would be assessed at current value.
Re: A Bay Area developer wants to build 4,400 homes where they may be sorely needed
#10>> “We’re a small town,” City Councilman W. Clarke Conway said at a meeting on the project last fall, “and we’re a small town by choice.” >> Last year, Brisbane hired a consultant who found that the city would net $1 million a year in tax revenue by approving the Baylands. But if the city instead approved a project with lots more commercial space, a larger hotel and no housing, Brisbane would gain $9 million annually…
A "small town" ... 7 miles from the center of a major global city and metro area ... even closer to a major international airport. These people are assholes.
There's nothing wrong with small villages 7 miles from a major city or even a capital city, if the principal city is built properly. If you walk 7 miles from the center of Zurich, Switzerland you'll probably find yourself in the middle of a vineyard or pasture.