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Agenda 6:00 Introductions (Everyone: name, affiliation, goal for - - PowerPoint PPT Presentation

Sep 13, 2023 426 likes •800 views

Agenda 6:00 Introductions (Everyone: name, affiliation, goal for tonight) 6:05 Housing Stories (Everyone shares with person next to them; 3 or 4 people share their story with the group) 6:25 Steve Vagnini, County Assessor (Housing Costs) 6:45

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Agenda

6:00 Introductions (Everyone: name, affiliation, goal for tonight) 6:05 Housing Stories (Everyone shares with person next to them; 3 or 4 people share their story with the group) 6:25 Steve Vagnini, County Assessor (Housing Costs) 6:45 MBEP Housing Initative And The 3-A’s for Understanding Housing 7:10 Pacific Grove Housing Ideas 7:30 Closing Remarks

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Housing Stories

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Housing Costs Steve Vagnini, County Assessor

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Monterey Bay Economic Partnershp

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Monterey Bay Economic Partnership

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VISION

A thriving region for all residents

MISSION

To improve the economic health and quality of life in the region

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Values

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Our Members: 80+ Strong and Growing

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Board of Directors

Supported by regional leaders who are ready to make a difference

  • Dr. George Blumenthal

Chancellor UCSC

Claude Hoover

CEO Veritas RE

Bud Colligan

Founder & CEO South Swell Ventures

Ray Corpuz

City Manager Salinas

Larry deGhetaldi, MD

President PAMF, Santa Cruz

Lorri Koster

CEO Mann Packing

Mary Ann Leffel

President MCBC

René Mendez

City Manager Gonzales

George Ow, Jr.

Chairman Ow Family Properties

Bruce Taylor

CEO Taylor Farms

Nina Simon

Executive Director Museum of Art and History

Brad van Dam

CEO Marich Chocolates

  • Dr. Gary Griggs

Director, UCSC Institute

  • f Marine Sciences
  • Dr. Eduardo Ochoa

President CSUMB

Nan Mickiewicz, MD

CEO Dominican Hospital

Barbara Thompson

Senior Vice President Wells Fargo & Company

Carrie Birkhofer

President & CEO Bay Federal Credit Union

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Our Strategies

  • Affect change through focused initiatives; 2015/16

they are: (1) Workforce Development and (2) Building a Tech Ecosystem and (3) Housing

  • Advocate for and support the creation & retention of

new jobs and businesses which support a sustainable region

  • Be the go-to source for tri-county data
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Advocacy

Policy|Projects

Monterey Bay Housing Trust Employer Sponsored Housing

MBEP Housing Strategy

Nonprofit Private

“MBEP has done much in four short months to move from conversation to action in concrete ways that will help solve the housing problem in the region.”

Linda Mandolini, President, Eden Housing

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MBEP Advocacy Strategy

  • Organize and activate a broad-based coalition

to increase the supply of housing in our region

– Partner with community groups and agencies like COPA, CCA, Landwatch – Work with affordable housing providers MidPen, Eden Housing, CHISPA, Habitat for Humanity – Engage private developers, real estate industry, unions, and employers around common goals – Coordinate with city and county housing and planning departments

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A Basic Understanding of the Housing Need is Important for Effective Advocacy

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Affordable Housing Provides Access and Opportunity

HOME

ELECTIONS RELIGION EDUCATION PARKS JOBS SHOPPING MEDICAL TRANSIT

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Housing Development Provides Economic Stimulus

  • Generates fees & taxes for local

governments

  • Vital construction jobs
  • Building materials demand
  • Property management jobs
  • Residential services & furnishings
  • Generates investment
  • Increases property values

Fuels the Local Economy

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Three Ways to Measure Housing Needs The 3 A’s of Housing –

  • Housing Affordability
  • Housing Adequacy
  • Housing Availability
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What is an Affordable Payment?

  • Federal statutory standard for “affordable” housing payment is

30% of gross household income.

  • Same standard used in state and local programs.
  • Up until 1980s, standard was 25%. Over years, pressure in

Congress to increase above 30%.

  • Moderate Cost Burden – Payment 31-50% of gross income
  • Extreme Cost Burden – Payment over 50% of gross income
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What Income Qualifies Households for Government Housing Assistance?

Based on Area Median Income (AMI) adjusted for household size, federal, state, local programs use income ranges or “bands” to determine whether gross annual income (before taxes) low enough to qualify.

  • a. Median Income (AMI) – Gross annual income level in defined area

(MSA or county), half households above, half below ($81,400)

  • b. Moderate Income – Gross annual income 81-120% AMI ($97,680)
  • c. Low Income – Gross annual income 51-80% AMI ($65,120)
  • d. Very Low Income – Gross annual income 31-50% AMI ($40,700)
  • e. Extremely Low Income – Gross annual income <30% AMI ($24,420)
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Monterey City median rent nearly twice the U.S.

Monterey Bay Economic Partnership

$2,677 $2,373 $2,314 $2,137 $1,395

$1,000 $1,200 $1,400 $1,600 $1,800 $2,000 $2,200 $2,400 $2,600 $2,800 2011 2012 2013 2014 2015 2016

Median Rent (2016 dollars) Monterey City California Monterey County Salinas City U.S.

Source: Zillow Rental Index Multifamily, SFR, Condo/Co-op Time Series, January 2011 - December 2016

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15% of families in the Monterey County area can afford a median price home

Monterey Bay Economic Partnership

60% 15%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

% of families that can afford a median price home

U.S. Salinas, CA MSA

The Housing Opportunity Index (HOI) for a given area is defined as the share of homes sold in that area that would have been affordable to a family earning the local median income, based on standard mortgage underwriting criteria. Source: National Association of Home Builders (2016). 2006-2016 NAHB - Wells Fargo Housing Opportunity Index (HOI)

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High and low wage jobs in Monterey County

Monterey Bay Economic Partnership

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Median Annual Earnings (2015 Dollars)

Doctors Computer related Education, training, and library Construction Building and grounds maintenance Food preparation and serving

Source: American Community Survey, 1-yr estimates, 2005-2015

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Affordable rents by job sector in Monterey County

Monterey Bay Economic Partnership

$591 $776 $786 $797 $930 $1,023 $1,053 $1,106 $1,199 $1,264 $1,308 $1,477 $1,557 $1,674 $2,176 $1,969 $2,586 $2,619 $2,656 $3,102 $3,411 $3,510 $3,686 $3,997 $4,212 $4,359 $4,922 $5,189 $5,580

$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000

Accommodation and food services Other services Administrative, support and waste management Retail trade Arts, entertainment, and recreation Manufacturing Construction Health care and social assistance Real estate and rental and leasing Finance and insurance Information Educational services Professional, scientific, and technical services Public administration Median market rate rental

Median Monthly Income Rent

Affordable Rent rates calculated based on 30% income standard. Source: American Community Survey, 2015 5-yr estimates, Zillow Rental Index Multifamily, SFR, Condo/Co-op Time Series, January 2016

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What is Housing Adequacy?

Conventional definition of “adequate” housing largely framed in terms of physical conditions:

  • Lack of plumbing, ventilation, light
  • Lack of water and sewer
  • Overcrowding
  • Substandard conditions, e.g., faulty wiring,

leaky roof, subsiding foundation, failing materials and appliances

  • Need to also focus on appropriateness, e.g.,

family cycle- and age-related, location

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What is Housing Availability?

Analysis of “availability” typically located within market analyses of supply and demand. Is there an equilibrium or disequilibrium (mismatch) between what’s needed and available? Typically measured by:

  • Vacancy rate
  • # of low-income households
  • vs. # of affordable units
  • # of households w/special

needs v. # appropriate units

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Regional Housing Needs

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Pacific Grove RHNA

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Advocacy Tools

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Advocacy: Regional Housing Pipeline

  • Now Available! Regional Housing Pipeline Map
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Action Center

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Pacific Grove Housing Ideas

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Ideas for Collaboration

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Source Sites

  • Housing Element Opportunity Sites
  • Non Profit Developers

– MidPen, CHISPA, Eden, EAH, First Community…

  • Unconventional– hospitality, churches,

school districts, hospital systems, unions

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Support Policies

  • Inclusionary Housing Ordinances
  • Infrastructure in Support of Housing (Water

Allocations, Public Transit)

  • Higher Density Housing Near Transit and Services
  • Accessory Dwelling Units (Granny Flats)
  • Restrictions on Short Term Rentals
  • Employer Sponsored Housing Development
  • More Funding for Low and Moderate Income

Housing (Local, State, Federal, Private sources)

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Thank You

Join our Action Center http://www.mbep.biz/Housing/ActionCenter.aspx Bill Peake PG Councilmember Matt Huerta MBEP Program Manager mhuerta@mbep.biz