Since I joined the ICLT, we’ve built two below-market rate apartment communities, Parc Derian and Doria, for families making no more than 80 percent of the area’s median household income; some residents earn less than 30 percent of the median income, which in Orange County is $97,900 for a family of four.
Recently, we celebrated the groundbreaking for Salerno, our newest affordable housing community in Irvine. On schedule to be completed in the Fall of 2020, Salerno will offer affordable rents as low as $550 for a one-bedroom, $625 for a two-bedroom and $695 for a three-bedroom.
Thirty-five of the homes will be reserved for those earning less than 30 percent of the area median income: 15 for veterans; 10 for individuals with developmental disabilities; and 10 for families at risk of homelessness.
As the Orange County Register observed, these affordable communities offer “a new beginning for veterans, developmentally disabled people and families at risk of homelessness.”
As Chair of the Irvine Community Land Trust (ICLT), I have been actively working with members of the California State Legislature to enact tax reforms to make it it much easier to create affordable housing throughout California.
The new legislation, SB 196, which ICLT and I worked on with Senators Jim Beall, Mike McGuire, and Bob Wieckowski to pass in Sacramento, and which has now been signed into law by the Governor, allows properties slated for affordable rental homes to get a tax exemption sooner, saving nonprofit builders between millions of dollars that can instead go toward building more affordable homes.
The new law also extends this property tax break to land for owner-occupied affordable home projects. As I told the Orange County Register, “It’s really hard to build these [affordable housing] projects. You have to have a lot of funding, and property taxes can take a significant bite out of that. Even if it didn’t prevent us from doing the [Salerno] project, it lowered the number of units we could do.” Now that’s been changed. Under the new law, property tax rates will be lower at the outset for below-market rate, affordable housing, making it much more practical to build more housing for more people in need.
Last month, I traveled to Georgia with ICLT Executive Director Mark Asturias and fellow board member Leon M. Napper for the Reclaiming Vacant Properties and Grounded Solutions Conference. While we were there, we visited New Communities, the first of the modern land trusts, founded in Leesburg, Georgia, in 1969, a former plantation is now owned by the descendants of slaves and dedicated to conservation and racial reconciliation. This land trust went on to inspire the hundreds of community land trusts that exist today, ourselves included.
All of these recent events are covered in our Q4 2019 Irvine Community Land Trust Newsletter HERE.
The affordable housing we’ve created with ICLT profoundly and positively impacts the health and education outcomes for hundreds of people. That’s why I volunteer to serve as Chair of the Irvine Community Land Trust. The affordable housing crisis isn’t just about buildings. We’re building communities for all the people who desperately need a place to live, including children who need a positive environment to thrive.
You can learn more about the Irvine Community Land Trust at our website HERE.
In May 2019, the Irvine Community Land Trust was awarded the Platinum Seal of Transparency from GuideStar, the world’s most respected source of information on nonprofit organizations. You can read about it HERE.