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BMR Fees

From: Wright, Sam <"Wright,>
Date: Tue, 19 Jul 2016 21:12:24 +0000

I'm opposed to increasing fees on new development to fund the Menlo Park BMR program.

The barriers to entering the Menlo Park housing market are high already. Asking new home buyers to shoulder an additional burden is bad policy.

How many actual below-market-rate units have been created as a result of the City's program? Have a significant number of low income residents benefited from this program?

Menlo Park may never be a suitable location for significant amounts of "low cost" housing. But - as a recent study by Trulia re-inforces (see http://www.trulia.com/blog/trends/elasticity-2016/ ) - we would be far better served by reducing delays and costs associated with approving new housing and allowing greater sway to market forces.

[I've been a West Menlo Park resident for 27 years.]

Sam Wright, J.D., LEED GA
Senior Vice President | Cushman & Wakefield

California Licensed Real Estate Broker # 01061071
California Licensed Attorney at Law #115327 (Inactive Status)
1950 University Avenue, Suite 220, East Palo Alto, CA 94303
Direct 650.320.0253 Cell 650.575.3556 Main 650.852.1200 Fax 650.856.1098




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Received on Tue Jul 19 2016 - 14:20:15 PDT

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