THE ELEPHANT IS IN THE ROOM!
The Belvedere Land Company, Belvedere’s largest landowner, would NOT PAY the Measure D Real Estate Property Transfer Tax. And yet, it would be the BIGGEST BENEFICIARY of the infrastructure improvements on Beach Road paid for by the Transfer Tax!
All the infrastructure work on Beach Road due to Measure D would GREATLY BENEFIT THE BELVEDERE LAND COMPANY given that it owns so many properties on that street.
And, with the recent release of the Draft Housing Element, it has been revealed by The Ark that the city has been in conversation with the BELVEDERE LAND COMPANY about developing the Boardwalk Shopping Center to include 65 new units. In addition, the Belvedere Land Company is looking at adding second stories or additional units over garages at existing properties in the area, for a total of up to 180 units to be added to the City’s housing. That exceeds the 160 units assigned by the state to Belvedere. In other words, the Belvedere Land Company could provide the City with 100% of its additional housing requirement.
As the Belvedere Land Company adds second stories and units over garages to existing properties on and near Beach Road, the benefit from Measure D road improvements becomes GREATER AND MORE PROFITABLE to the Belvedere Land Company!
BUT THE BELVEDERE LAND COMPANY WOULD PAY NO TRANSFER TAX FOR THESE ROAD IMPROVEMENTS UNDER MEASURE D!
BELVEDERE HOMEOWNERS WOULD PAY THE TAX FOR THESE ROAD IMPROVEMENTS!
IF A PARCEL TAX WAS USED FOR INFRASTRUCTURE IMPROVEMENTS, THE BELVEDERE LAND COMPANY WOULD HAVE TO PAY THEIR FAIR SHARE!
THERE IS A BETTER WAY TO PAY FOR OUR SAFETY!
VOTE NO ON D!