If you own property in the City of Long Beach, you’ll be interested in knowing that at tonight’s Long Beach City Council meeting, City staff will recommend approval of a ballot measure that would assess property owners at the rate of $25 per $100,000 assessed valuation. (Item #20-0019 on the agenda.)
This would be in addition to City and County property tax increases approved over the last few years that raised the average Long Beach homeowner’s annual tax bill by over $400. Based on an average assessed value of $300,000 the new bond would add another $75 annually.
What would the new money be used for?
…the creation of affordable housing in Long Beach, with funds available for extremely low, very low, low, moderate, and workforce housing, crisis shelters and homeless services facilities, motel conversion programs, and other solutions to address the housing and homelessness crisis in Long Beach.
Oddly, the resolution seems to get the cart before the horse, so to speak. It would also direct the Long Beach City Manager…
…to prepare a report on affordable housing needs in Long Beach, strategies to address housing affordability and homelessness, potential types of projects that could be funded with a housing bond, estimates on the number of units that could be constructed with a revenue source dedicated to affordable housing, and report back to the City Council within 90 days.
So the Council will be asked to approve placing a bond measure on the November 2020 ballot before a report is presented on how the money would be used.
At least the report is due back to the City Council before November!
If you want to let the Long Beach City Council know your preference on this bond measure, you first have to figure out which Council Member represents the District in which you live. Visit the official Long Beach City website to find your District and your representative.