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Jeffrey Kalban's Zoom Meeting - Shared screen with speaker view
Sandy Hubbard
16:28
Jeff, Glenn Block has joined the meeting at the request of John Heath to advise us about the project in North Hollywood, and has requested a moment to speak before the presentation if possible
Mari Eliza
20:41
Is there any consideration about using public banks to finance home ownership by supporting rent-to-own options?
Daniel Tabor
21:58
Great Question Rent to Own is a proven strategy to bridge renters to homeowners.
Sandy Hubbard
27:50
https://www.epi.org/publication/the-color-of-law-a-forgotten-history-of-how-our-government-segregated-america/
Susan Hunter
34:04
Sure. I think the language to use is that ownership has to be limited to natural persons only, and not to any LLC or corporations.
Susan Hunter
37:32
I think the rent to own model could work if the state is the lender as opposed to private banks. The state would be able to do a slow mortgage process where the rent is applied as a mortgage payment with zero down payment (except for a rental deposit). Basically, after 30 years, the tenant would own the property if they have made all the payments.
Sandy Hubbard
39:51
and maybe an option to refinance with a private bank at, say, 10 years, so the govt isn’t required to carry it for 30 years if the person can qualify for a traditional loan at that time?
Wjbabb@aol.com
40:41
Where did the stat from building out existing comm and multi - come from? Who is source?
Susan Hunter
41:21
A traditional bank would probably require at least a 10% down payment, so the family would have to pay rent as well as save up 1% every year.
Wjbabb@aol.com
42:19
Who is Glen Block?
Sandy Hubbard
42:40
Glenn is the Planning and Land Use Chair of the Valley Village Residents Association
Sandy Hubbard
42:53
Formerly the Chair of the NCVV PLU Committee as well
Sandy Hubbard
43:29
I sent out an email earlier today with the information that he’s relaying
Susan Hunter
43:57
I hate that. The “poor” buildings.
Sandy Hubbard
44:18
indeed. It’s quite horrific that taxpayer dollars could be used like this
Daniel Tabor
45:40
When did the Metro Board approve this exclusive development agreement?
Susan Hunter
48:16
JJJ allows for in-lieu fees as well as offsite development for the affordable units, which is basically economic discrimination.
Mari Eliza
49:36
Is there a phasing component? Which gets built first?
Daniel Tabor
51:43
Great idea.
Sandy Hubbard
51:50
100% affordable. At least solve the problem with the missing middle as well as lower income
Mari Eliza
52:43
I meant a phasing component with Metro project?
Sandy Hubbard
53:27
and who consistently tracks that “affordable” housing is being delivered only to those who qualify
Mari Eliza
54:00
What is affordable now? Lots of controversy over that.
Sandy Hubbard
55:00
If you make less than $54,250 per year in Los Angeles County, you may qualify for low-income housing. According to estimates released last month by the U.S. Department of Housing and Urban Development, the median family income in LA County is now $69,300.
Mari Eliza
55:28
AMI needs the scrutiny that RHNA is getting now.
Sandy Hubbard
56:10
so “missing middle” is going to be $55-$80k I think
Susan Hunter
56:30
And affordable housing traps people in a cycle of poverty. If you get a holiday bonus, you could lose you home. And the affordable increase are roughly 8% every year, plus the affordability ending at 55 years.
Janet
57:55
Defining affordability is essential and John, you clarified it more logically. Spell it out.
Mari Eliza
59:25
Agree with Sandy. This is a another reason why we need to support rent-to-own. To allow people to climb the ladder as they stay in one place and thrive. They should not be punished for being successful. People need to be allowed to live without fear of being moved out against their will.
Mari Eliza
01:02:15
Why not have the rent based on your income and not where you live.
Sandy Hubbard
01:02:33
or mortgage!
John Heath
01:02:59
That document includes the data and/or links on the total housing unit density capacity using existing zoning in city of LA
Mari Eliza
01:05:11
People are most stable and more able to build their savings when they are allowed to stay in place. That is the whole point of the American dream. The stability that is brings to the homeowner, or renter who is able to increase their income and “better themselves”
John Heath
01:06:33
Finding a way to impose a income based rents onto multifamily rentals works well but requires subsidy to work for financing purposes. Its called Section 8 vouchers!
Susan Hunter
01:09:40
Parks would be okay, but housing would be very expensive over highways due to black lung lofts. They need special filtration systems due to the smog from the cars.
Sandy Hubbard
01:11:21
why mid block instead of corners?
Sandy Hubbard
01:19:39
transition standards should be required for that “air rights” concept. Love the public/private parking lot concept
Susan Hunter
01:22:18
There should also be a mass transit emergency plan in place.
Sandy Hubbard
01:23:44
Assemblymember Nazarian recommends our support for a Regional Transportation Corridor, as transportation will be the basis for good housing (and jobs)
Sandy Hubbard
01:26:31
so right, James. We could probably take this back for centuries. Look at the old-world cities—same thing. Built on transportation corridors, industry in the center, housing surrounded it
Susan Hunter
01:28:01
Agreed. We don’t have a housing crisis in LA. We have a commodification crisis. Working class families can’t compete with corporations and conglomerates for our housing. We have plenty of housing units, it’s not being used for housing. Do we want to build housing, or house people? It’s two different things.
Daniel Tabor
01:28:25
Public Transit needs to get you from here to there, The funding for the infrastructure is in place Measure R & M. First Mile Last Mile local strategies are also funded in the measures.
Sandy Hubbard
01:29:10
Who enforces the First Mile, Last Mile strategies? I’ve recently heard that is being disregarded in Metro’s plans
Sandy Hubbard
01:30:19
a lot has passed under the bridge named COVID
Daniel Tabor
01:31:39
Don't know but I can find out. We MOVELA serve on several Metro Committees.
Daniel Tabor
01:33:01
As in most well planned global cities public transit must be intermodal and multimodal.
Sandy Hubbard
01:41:25
Yes, thank you :)