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An Example of the Public Costs of Private Affordable Housing

An Example of the Public Costs of Private Affordable Housing

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Published by wmartin46
The public costs of affordable, low-cost, privately-owned housing are often ignored by those promoting these projects. The short paper estimates the possible future costs of a privately-owned housing project in Palo Alto, CA, in terms of property taxes that are not paid and the costs of services required by the residents of this project.
The public costs of affordable, low-cost, privately-owned housing are often ignored by those promoting these projects. The short paper estimates the possible future costs of a privately-owned housing project in Palo Alto, CA, in terms of property taxes that are not paid and the costs of services required by the residents of this project.

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Published by: wmartin46 on Oct 07, 2013
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01/03/2014

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The Public Cost of Privately-owned Affordable Housing
The City of Palo Alto usually processes each new affordable housing project as if it werean “isolated incident”—rarely, if ever, showing us what the total costs of these projectsmight be. This “big picture” involves looking at “externalities” (often considered ashidden/future costs), or the exemption from taxes—which effectively shifts the cost of government services from one group to another.The so-called Maybell Orchard project gives us a chance to look at the Palo Alto HousingCorporation (PAHC) (a non-profit agency which was created with the assistance of theCity Council in 1970)
 
in terms of its taxable properties, its tax liability and long-term taxavoidance. The table below was generated by taking the properties listed on the PAHCweb-site and determining the assessment of each property on the Santa Clara CountyAssessors web-site. Under Prop.13, taxes are one percent (1%) of assessed value, so thetax liability is easily derived.
Arguments Opposing the Maybell Orchard/Measure D BallotProposition
The Measure D arguments seem to be falling into four general areas: 1) Site Specific(traffic increases, safety, quality-of-life) 2) Opposition to High Densification/PC-zoningAbuse, 3) Transparent and Sustainable Government Finances, and 4) Immigration-relatedissues. This paper speaks to some of the issues involved with Transparent andSustainable Government Finances. While many Palo Altans might be inclined to seeonly one, or two, of this grouping of arguments, it’s important to point out that all of these issues are involved directly, or indirectly, in opposition to this housing project being proposed for Barron Park.
Palo Alto Housing Corporation Property Tax Data
DevelopmentAcquired/Built
Units
TypeParcelNumberAssessedValueTaxLiability
201010Family(studio)
132-25-054$1,000,000$0
2507-2533Alma Street(650) 853-1788
14Family
132-28-124$1,000,000$1,000,000
3445 AlmaStreet1 & 2BR
1998106SingleRoom
120-27-089$16,987,734 $1,074,636
753 AlmaStreetOccupancy(studio)
 
(650) 473-9195
199566Family& Senior
137-25-110$9,635,078 $379,823
574ArastraderoRoad1, 2, 3 &4BR(650) 493-4376
199325SingleRoom
120-26-023$2,590,087 $838,092
439 EmersonStreetOccupancy(studio)(650) 327-5327
198945Family
124-28-052$7,170,808 $1,022,254
2301 Park Blvd.1, 2 &3BR(650) 321-2730
197260Family& Senior
127-01-154$2,032,694 $74,695
1141 ColoradoAvenue1, 2, 3 &4BR(650) 856-9377
19859Family& Senior
132-41-011$915,477 $76,717
300 & 310CurtnerStudio,1 & 3BR(650) 858-2199
198011Family& Senior
120-24-028$965,305 $0
129 EmersonStreetStudio,1 & 2BR(650) 858-2199
19946Family& Senior
132-48-019$604,938 $0
3051-3061Emerson StreetStudio(650) 858-2199
19856Family& Senior
132-48-018$494,844$0
3067-3077Emerson StreetStudio(650) 858-2199
19964Family& Senior
120-25-095$202,345$0
330 EmersonStreet1BR(650) 858-2199
198116Family
147-32-050$1,239,326 $234,571
 
101-131 FerneAvenue2BR(650) 858-2199
200553Family
120-28-109$23,256,428 $1,886,096
845 RamonaStreet1, 2 &3BR(650) 326-3211
199133Family
137-12-002$5,419,621 $5,419,621
630 Los RoblesAvenue2 & 3BR(650) 858-2199
19801Family
003-45-085$75,238 $75,238
1259 PineStreet3BR(650) 858-2199
199110Family
132-48-010703,000$72,300
3020-3038Emerson Street2BR(650) 858-2199
199857Senior
132-36-0816,400,0000
360 SheridanAvenue1BR(650) 326-1240
20113433Studios
132-46-072$9,272,7650
488 W.CharlestonRoad1 1BR(650) 858-1101
199712Family
132-41-042$1,685,684 $131,598
290 & 310Ventura2 & 3BR(650) 858-2199
19886Family& Senior
132-48-020$870,451$0
3039-3049Emerson Street1 & 2BR(650) 858-2199
197868Family& Senior
120-05-075$4,131,405 $4,232,206
941 WebsterStreet1, 2, 3 &4BR(650) 326-9271Palo AltoHousingCorporation
120-27-089$16,987,734 $1,074,636

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