Here are two things the SMRR-controlled Santa Monica City Council doesn’t want you to know:
1. The more we build, the more we will be required to build by anonymous regional regulators.
2. Over 33 percent of our 39,000 multi-family units are already either subsidized or at bargain levels.
Santa Monica’s housing targets are based on the Southern California Association of Government’s (SCAG) Regional Housing Needs Assessment. Its new housing unit targets through 2021 for the region are:
Santa Monica: 1,674
Beverly Hills: 3
West Hollywood: 77
Culver City: 185
This make no sense. It takes gullible Santa Monicans for chumps.
Our allocation is badly out of whack with our neighbors. Because we have disproportionally grown commercial space, jobs and housing, SCAG’s allocation formula uses this trend against us. Going forward, it locks us into a self-fulfilling, perpetual cycle of growth. As we expand, we get recalibrated targets. These justify more growth which in turn mandates more development. Have you ordered your helicopter yet?
Here are some closeted details regarding the 33 percent of our multi-family housing stock that is already renter-friendly. The Rent Control Board’s own records reveal that in 2014 Santa Monica had 8,977 units with controlled rents at approximately half of market rates. Of these, 3,861 units met even HUD’s affordability standards for Greater L.A. In addition, we had over 4,200 deed-restricted affordable units.
The rent board uses the L.A. standard rather than Santa Monica’s higher median household income to create a more dire illusion. Not to be out done in doomsday prophecy, page 24 of the City’s 2015-2019 Consolidated Plan warns ” … there could be over 20,000 extremely low-income Renters and Owners (in Santa Monica) on the edge of homelessness.” Get a grip.
It’s time for Santa Monica to take a time-out until Beverly Hills, West Hollywood and Culver City get in the game.
Wellman Realty Company