by DCG
People often compare the government to the Mafia in that the mobs make a profit. I’d add that the Mafia actually accomplish REAL goals.
In April 2016 the Oakland City Council approved a new affordable housing impact fee to address rapidly rising rents in the city.
KQED reported at the time that, “The new ordinance permits the city to charge developers who want to build market-rate housing a one-time fee intended to help fund subsidized affordable housing. Though the impact fee is the first action the council has taken to directly address the city’s affordable housing shortage, the city administrator’s office expects it will only fund about 600 new affordable units over the next 10 years.”
Fast forward to 2019 and guess how many “affordable units” have been built?
The answer: A BIG FAT ZERO!
From SF Gate:
“In 2016, Oakland passed a fee on new residential developments that was supposed to raise $65 million over 10 years for affordable housing, according to the San Francisco Chronicle. However, three years later, just under $9 million in fees have been collected — and zero new affordable housing units funded by the fees have broken ground.
Some officials estimate that the city should have collected close to $20 million into its impact fee fund by now. So where is all the money? The city recently hired an auditor to investigate.
“We have been asking these questions for a year and not getting answers — so we don’t know if it is a failure to collect, being expended improperly or if the fund(s) are sitting somewhere, but not being tracked,” Oakland City Council President Rebecca Kaplan told the Chronicle.
Mayor Libby Schaaf set a goal in 2016 to build 17,000 new homes, both affordable and market rate, by 2024 — with about 28 percent being affordable. By the end of last year, only about 8 percent of new units built were affordable.
As of now, Oakland has distributed about $4.8 million of the funds from the 2016 program to three affordable housing projects. Construction has yet to begin on any of these projects.”
This is no surprise considering that Oakland Mayor Libby Schaaf (a demorat) works harder to ensure that criminal illegal aliens have more protections and representation than citizens.
DCG