Those of you who know me, know that I am passionate about homelessness and low income housing. I worked in the nonprofit housing industry for 17+ years before becoming a Realtor. With Measure W in Oakland and Measure T in Richmond, the two cities have become the first in the state to put forth measures to fund low income housing. Specifically these measures will tax unoccupied buildings in the city to the tune of around $6,000 a year. That money will be specifically earmarked for funding low income housing. As of this time, it appears that Oakland’s measure will pass, and Richmond’s will not.
Although the California Association of Realtors supported a no vote, I for one and ecstatic that low income housing will finally be getting some desperately needed funding. Oakland plans on raising up to $10 million with this new tax.
Hopefully Oakland will be the model for other cities to follow suit. Stay tuned.
For more on the mechanics of how this tax would work, check out KQED’s coverage here.