THE WEEK OF MARCH 16-22
–ALAMEDA– Regular council meeting, Tuesday, Mar. 20, 7 p.m. [ENTIRE AGENDA HERE]
–UPTICK IN REVENUES– “The proposed budget amendments to the FY 2017-18 Budget will increase General Fund revenue by $7 million, to $99 million, and will increase operating expenditures by $382,000, to $95 million in operating expenditures, and to $111 million total expenditures including annual Pension/OPEB reserve funding. After implementation of the Pension/OPEB reserve policy for 2017-18 results, the adjusted available fund balance at June 2018 is projected at 32% of annual operating expenditures.”
–Alameda’s revenues increased across the board. The main factors is a $1.6 million rise in expected property tax revenue; $300,000 more in sales tax proceeds, and three large and unexpected property sales that drove up Property Transfer Taxes by an additional $5 million since last June. Pension costs, however, are expected to rise $1-2 million this year and double in the five years, according to a city report.
–LANDLORDS’ RENT MEASURE– A ballot measure bank-rolled by Alameda landlords appears headed for the November General Election. Landlords were successful last summer in gathering enough signature to qualify for the 2018 ballot. The ballot measure proposes to place the city’s current rent stabilization ordinance in the City Charter. Since the ordinance’s passage, renters’ advocates have soured on the law, while landlords’ have come to embrace it as a means for stifling even greater rent restrictions on property owners. NEXT MEETING: Tuesday, April 3.
–OAKLAND– Regular council meeting, Tuesday, Mar. 20, 5:30 p.m. [ENTIRE AGENDA HERE]
–FAVORABLE BOND MARKET– Oakland city staff the time is right to finance refunding bonds previous issued for the Oakland Coliseum Area Redevelopment in 2006 and the City of Oakland Subordinated Housing Set Aside bonds in 2011. “The Refunding Bonds will be issued in an aggregate principal amount not to exceed $65,000,000, with a true interest cost not to exceed 6.25 percent (6.25%), and having a maturity date of no later than September 1, 2041. Due to favorable interest rates, as of Feb. 22, 2018, the refunding is expected to generate debt service savings of approximately $21.8 million total through fiscal year 2042.” NEXT MEETING: Committees, Tuesday, Mar. 27.
–SAN LEANDRO– Regular council meeting, Monday, Mar. 19, 7 p.m. [ENTIRE AGENDA HERE]
–THIS WEEK IN NIMBYISM– A 62-unit affordable housing development across from the San Leandro BART station on the corner of San Leandro Boulevard and Parrott Street was approved, 4-0, in January by the city’s Board of Zoning Adjustments. The next door neighbor to the proposed five-story building appealed the decision. “[The] appellant, has stated that the reason for his appeal is that the location of the proposed building disproportionately blocks the amount of sunlight onto his property, a single-family home directly adjacent to the east of the subject property. As the sun moves overhead from east to west, Mr. Blaine has argued that the proposed building would serve as a barrier to the sun, leaving his home in shadow for at least half the day.” City staff recommends the council deny the appeal. NEXT MEETING: Monday, April 2.
–HAYWARD– Regular council meeting, Tuesday, Mar. 20, 7 p.m. [ENTIRE AGENDA HERE]
–SIGNAL FOR AFFORDABLE HOUSING– With a housing crunch in Hayward that is increasingly dominating council discussions, the city is preparing to put potential developers on notice that county Measure A1 affordable housing is available in Hayward. Measure A1 was $580 million bond measure approved by county voters in 2016. According to the staff report, prospective partners will need to show they can leverage additional means of funding for their projects, in order for Hayward to maximize the number projects that can be funded with its portion of Measure A1 funds. One proposal is known, while another is rumored. The current schedule hopes to have projects approved by the council in late July. NEXT MEETING: Tuesday, Mar. 27.
–BART– Regular board meeting, Thursday, Mar. 22, 9 a.m. [ENTIRE AGENDA HERE]
–EDEN HEALTH DISTRICT– Regular board meeting, Wednesday, Mar. 21, 5 p.m. [ENTIRE AGENDA HERE]
ebcitizen.com 