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9/11/2009 9:22:47 AM
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CITY CLERK
CITY CLERK - TYPE
STAFF REPORTS
DOCUMENT DATE
9/15/2009
DESTRUCT DATE
15 Y
DOCUMENT NO
01
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time the conversion takes effect. She and other residents are on a fixed income, barely able to <br /> afford their current rent, and depend upon the City for protection. <br /> Pam O'Connell asked the Council to deny the appeal and said she is concerned that after investing <br /> so much in her home, she will have to walk away because she cannot afford the lot upon which it <br /> sits. She suggested the City consider joining the lawsuit already existing to stop a similar <br /> conversion in Sonoma County. <br /> Richard Close, Gilchrist Rutter, attorney for the applicant, said that in the middle of the 1980s <br /> California residents lobbied for a law that would allow mobile home residents to purchase individual <br /> lots. He said the applicant has complied with the resulting law, as indicated by the City Attorney, <br /> and he asked the Council to approve the appeal. The law gives residents a choice between renting <br /> and owning with no pressure to do either. <br /> Susy Forbath, Gilchrist Rutter, acknowledged the affordability concerns expressed and said that <br /> affordability in terms of a mobile home should consider more than just monthly rent. She explained <br /> that mobile homes are typically financed by personal property loans, not real estate loans, and that <br /> when combined with the unit's monthly rent most homes are already well out of the affordable <br /> bracket. She noted that no cities in California can include mobile home parks in their affordable <br /> housing quotient for that reason. She also explained that while the concept of affordability is <br /> positive, agreements such as the rent stabilization agreement in effect here actually mean that new <br /> residents pay a higher purchase price for their home because it is located in a rent controlled park. <br /> Ms. Forbath said she read the surveys, noted that many residents were concerned about their <br /> ability to remain in the park and stated that the conversion allows people the option to buy; should <br /> they choose not to, they may continue to rent as they have in the past. <br /> Vice -Mayor Cook- Kallio asked about homeowners who are forced to walk away because they <br /> cannot afford the land but cannot sell the home because the land may be too expensive for a new <br /> buyer. <br /> Ms. Forbath believed that homeowners could sell their home just as they could today. She said that <br /> if the conversion goes through, new buyers would be required to purchase both the home and the <br /> land. She thought that it would actually increase buyer opportunity as the connection of the home <br /> and land means a buyer could obtain a real estate loan rather than a personal property loan. She <br /> acknowledged that the 10 -year period carries with it a sense of uncertainty regarding property value <br /> and rents. She laid the law, as it exists today, was written to eliminate that uncertainty by providing <br /> residents with a choice. <br /> Janet Cristiano said as a real estate professional, she strongly believes in the value of home <br /> ownership and is saddened by residents' objections and lack of interest in conversion. She doubted <br /> that fair market value warrants all the concern expressed and explained that fair market takes care <br /> of itself, as evidenced by today's housing market. <br /> Peter Iversen said he is a real estate appraiser with experience appraising mobile homes. He said <br /> this is a marvelous opportunity, he hopes to purchase his own lot, and is disappointed that he must <br /> wait 10 years to do so. <br /> Mayor Hosterman closed the public hearing. <br /> City Council Minutes Page 6 of 11 August 18, 2009 <br />
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