Answers:

Survey Response - Question #1.5

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1.6) How do we mitigate for absentee landlords and Prop 13?

Synthesis:

Incentives and Policy Changes to Catalyze Downtown Housing Development

Effective strategies for catalyzing housing development in downtown areas involve a combination of financial incentives, regulatory reforms, and collaborative efforts among stakeholders. These strategies can help streamline the development process, reduce costs, and ensure high-quality, context-appropriate designs that respect historical districts.

Priority Permitting and Financial Incentives

Priority Permitting

• Implement fast-track permitting processes for housing projects that meet certain criteria, such as affordability, sustainability, or compliance with design standards.
• Priority permits can significantly reduce the time developers spend in the approval phase, making housing projects more financially viable.

Financial Incentives

• Tax incentives: Offer property tax reductions or abatements for developers who build affordable or mixed-use housing.
• Grants and subsidies: Provide direct financial support to reduce construction costs, especially for affordable housing projects.
• Low-interest loans: Facilitate access to financing through low-interest loans or other financial products tailored for housing development.

Regulatory Reforms

Approval Process Certainty and Flexibility