City Council vote on land value recapture in the Adeline Corridor plan

[Robert Lauriston]

Last week the City Council voted to have staff study "land value recapture," which is not well explained in the memo from Arreguin, Harrison, Hahn, and Bartlett proposiing it:

https://www.cityofberkeley.info/Clerk/City_Council/2017/07_Jul/Documents/2017-07-25_Item_34_Land_Value_Recapture.aspx

From the annotated agenda:

Action: Moved to Action Calendar. 2 speakers. M/S/C (Arreguin/Harrison) to adopt Resolution No. 68,133–N.S. amended to include “all zoning considerations” in addition to all area plans; and include the provisions that down-zoning is not an option and that intensive uses will not be dis-incentivized, especially on transit corridors. Approved recommendation #2.

Vote: Ayes – Maio, Davila, Bartlett, Harrison, Hahn, Wengraf, Droste, Arreguin; Noes – None; Abstain – None; Absent – Worthington.

As an example of the kind of land value increases we're seeing, the parcel that includes True Value Eastern Supply and the Model Garage sold last month for $4.6 million, an increase of $3.9 million from its last sale in 1998.