Creation of Affordable Housing in the New Economy

When we talk about affordable housing we must first understand that jobs creation and affordable housing are two sides of the same development coin. If we cannot live where we work, the creation of truly affordable housing is a Pyrrhic victory at best. As our economy and employment markets recover, I believe that there are several key elements to a workable and sustainable low and modest income-housing plan.

• First, we need to support the continued application of the city’s Inclusionary Housing Unit requirement.

• Secondly, we must work for the passage of an ordinance assessing a modest tax on all transfers of real property, both residential and commercial.

• Thirdly, the city must adopt an ordinance that imposes an incremental tax on all realtor commissions.

• Fourth, we must support all programs and policies that maintain the affordability of existing housing stock in Santa Cruz.

• Fifth, we must support the continuing enforcement of the policy against condominium conversions.

• Sixth, we must strongly advocate for the establishment of mutually beneficial affordable housing partnerships between the City of Santa Cruz and non-profit agencies such as Habitat for Humanity.

• And finally, we must lobby for new legislation on the state level to provide permanent funding for local affordable housing development.

Santa Cruz faces the challenge of forging new public and private partnerships that will drive the creation of affordable housing. As we consider the additional issues of environmental sustainability, higher density development and the modest growth envision by our new General Plan, we must redefine the meaning of “affordable housing” and reaffirm our commitment to this most fundamental part of the American Dream.