City of Santa Clara held a Priority Session meeting on February 8th which included a report by their consultant Lew Edwards and team. This is the same consultant who has been hired by the City of Palo Alto. The City conducted a survey of 600 likely voters from January 20-27, 2022. The survey results were:
The Palo Alto Business Coalition, which is comprised of Silicon Valley Leadership Group (SVLG), Palo Alto Chamber and NAIOP Silicon Valley, continue to discuss the City of Palo Alto’s poll results and individual business interest in waging a campaign against the proposed tax increase.
The Palo Alto city council approves a significant Commercial Linkage Fee increase and is considering a square footage tax!
The pandemic and the slowdown in the economy has not slowed down cities from trying to increase taxes and in particular taxing property owners. The City of Palo Alto is revisiting tax increases.
President Joe Biden has unveiled two momentous plans that are part of his “Build Back Better” agenda. Costs to fund the American Jobs Plan and the American Families Plan could result in consequential tax changes and have a tremendous impact on CRE.
Santa Clara’s 15-year legal battle with the City of San Jose, that has held up development of up to 24,000 housing units in North San Jose, could end because of the newly elected councilmembers from both cities.