ACTION Apartment Association

No on Prop 10

09/05/2018 9:24 AM | Margaret Fulton (Administrator)

Prop 10 has too many flaws and will make the housing crisis worse.

Read More: https://prop10flaws.com/p 10 has too many flaws and will make the housing crisis worse.

Major Housing Reform Passes California State Senate

09/04/2018 10:03 AM | Margaret Fulton (Administrator)

On Wednesday, August 29, the California State Senate approved Assemblymember Richard Bloom’s (D-Santa Monica) measure to reform the process for determining and apportioning regional housing needs. AB 1771 makes several changes to the Regional Housing Needs Allocation process, including requiring the regional distribution to be more data-driven and equitable.

Read More on pg. 8: http://backissues.smdp.com/090418.pdf

Council approves cell phone antennas on residential streets

09/04/2018 9:58 AM | Margaret Fulton (Administrator)

City Council has denied a pair of appeals that would have prevented the construction of new cell antennas in residential neighborhoods.

Residents objected to the installation of the new technology on the 900 block of 18th street and the 2200 block of 23rd street but Council said appeals were either overruled by federal mandates or lacked a basis in current municipal code.

The appeals cited health concerns related to function of the towers, aesthetic problems, concerns over depressed real estate values, alleged problems with the permitting process and questions of the future maintenance of the antennas.

Updated Santa Monica-Malibu School District Credit Ratings to Save Taxpayers $10 Million

09/04/2018 9:44 AM | Margaret Fulton (Administrator)

August 31, 2018 -- The Santa Monica-Malibu Unified School District got a boost from the nation's top credit agencies as it prepares to place a record $680 million in bonds on the November ballot, District officials announced Friday.

S & P Global upgraded the district's rating to ‘AA+’ on existing general obligation bonds, while Moody’s Investors Service affirmed it highest rating -- ‘Aaa’ -- for the second year in a row.

The new ratings are expected to save taxpayers nearly $10 million over the life of the bonds by lowering borrowing costs, District officials said.

Rent control is the surest way to stop new affordable housing

09/04/2018 9:32 AM | Margaret Fulton (Administrator)

For months, the city of Sacramento has been in the throes of a heated debate over the city’s affordable housing problem, its root cause and potential solutions – highlighted by two workshops arranged by the mayor.

At an initial session held Aug. 14, there was general agreement that the root cause is a lack of supply. There also was consensus about the remedy: Build more units, and faster,through new funding sources and incentives to attract private-sector investment.

What went glaringly unsaid is that the surest way to kill new investment in affordable housing is to impose an artificial rent cap on the market, even a temporary one.

Read more here: https://www.sacbee.com/opinion/op-ed/soapbox/article217648110.html#storylink=cpy

Californians — resist the rent-control temptation

09/04/2018 9:19 AM | Margaret Fulton (Administrator)

Opinion

But as tempting as it is simply to use price regulation to clamp down on housing costs, it’s a temptation voters should resist.

In the run-up to the Nov. 6 election, voters will hear what have already become familiar arguments: The surest route to lower housing costs is increased housing supply. Private owners should not be asked to provide what amounts to a subsidy. For those unconvinced, however, it’s worth looking at rent control through another lens — how it actually works.

Ode to the Future of My City

08/31/2018 1:31 PM | Margaret Fulton (Administrator)

SM a.r.t.

I continue to wander and ask -is our quality of life and beachfront environment improving, is Santa Monica flourishing or floundering?

Residents want responsible growth. The business community wants unbridled growth and has successfully commandeered Council, city commissions, and staff.

How did this happen – City Council of amateurs, Commissions riddled with political appointments, and a relatively incompetent, overpaid staff? An audit committee disbanded while council approves public restrooms costing $5,000 a square foot – kid you not! A city hall annex costing an extra $80 million including financing –three times what it should cost! And the range of problems continue unabated – rents, home prices, crime, homelessness, traffic, city budget, infrastructure, empty storefronts.

Two Housing Bills Sponsored by Santa Monica Lawmaker Approved by State Assembly

08/31/2018 1:26 PM | Margaret Fulton (Administrator)

Two housing bills sponsored by Santa Monica Assemblyman Richard Bloom were approved by the State Assembly on Thursday.

One bill (AB 2797) addresses inconsistencies in the application of housing density bonuses on the coast; the other (AB 1771) reforms the process for determining and apportioning regional housing needs.

Wall Street already jittery about possible expansion of rent control in California

08/31/2018 1:19 PM | Margaret Fulton (Administrator)

The mere possibility that California’s ban on rent control could be repealed is making Wall Street investors and landlords jittery.

Earlier this month, analysts from SunTrust downgraded Equity Residential (NYSE: EQR) from "buy" to "hold" based in part on Proposition 10, a California ballot initiative that would give cities more leeway to adopt rent new control policies. Close to half of Equity Residential’s portfolio is in California and there is “essentially nothing priced into the stock” to address the uncertainty, according to the SunTrust report.

Bed Bugs, an Itching Legal Subject for CA Landlords

08/31/2018 1:12 PM | Margaret Fulton (Administrator)

An Inglewood family sued their landlord, Amusement Six Apartments, for breach of warranty of habitability, emotional distress, negligence, and breach of contract after they didn't sleep tight.