We Have Dedicated Housing Subsidies
We are proud Berkeley is California's leading city for subsidized housing. We expanded our commitment in 2018 with an additional $135 million (Measure O) and a dedicated 40% increase in transfer taxes (Measure P). These measures combined with existing bonds and taxes generated $177.5 million (see table). City Council should expand housing opportunities within its existing means without new spending that puts more burden on residents that are feeling the squeeze.
Source: City of Berkeley Annual Comprehensive Financial Report and Ballot Meaasure O
In 2018, these bond and tax measures were sold as a solution. Before we have even begun to pay back this debt City Council wants another $200+ million.