UPDATE: We’re excited that Measure U1 passed in the November 2016 election!
This measure would generate funds for new affordable homes in the City of Berkeley through an increase in the business license tax for owners of larger multi-unit residential buildings.
It’s no secret that the Bay Area is suffering from a housing affordability crisis. Pick up any newspaper these days and you’re likely to see a headline about the financial and emotional toll that high housing prices are having on Bay Area families, especially low-income residents.
Housing affordability is also a problem for our natural and agricultural lands. When people are no longer able to afford to live in communities near jobs and transit, they often move to less-expensive neighborhoods at the edges of the region and beyond. This can create new sprawl pressure in these edge communities, threatening the greenbelt lands that benefit us all.
The Berkeley City Council has proposed a smart measure to help address the housing affordability crisis, generating additional funds to get affordable homes built.
Measure U1 raises the business license tax by 1.8% to a total of 2.88% of gross receipts on owners of five or more residential rental units. It’s expected to raise up to $5 million dollars a year and create more than 400 affordable homes over the next ten years.
Measure U1 is supported by many respected organizations, representing social equity, seniors, disabilities, environmental, good government, and labor issues.
Greenbelt Alliance urges everyone in Berkeley to vote YES on Measure U1.
Learn more:
http://www.fundaffordablehousing.org/
