23 ATTACHMENT 2 - Laserfiche WebLink

DrafF 14. Subregional Planning Element directors), private sector leaders (including the Tri-Valley Business Councill and other community leaders (including education) - with all parties focused on the talent, entrepreneurial business support, and quality of life necessary to sustain the region's innovation-based economv." The report further concludes: "To succeed as a region whose comparative advantage is entrepreneurship and innovation rather than primarily strategic location or low costs Tri Valley must have a strong innovation `habitat' - a combination of talented people a strong pipeline of ideas and funding, and supportive lace-based attributes such as housing, transportation and quality of life." > , > , To continue this economic success the Tri-Valley area must ensure an adequate supply of affordable housing within a reasonable commuting distance of Tri-Valley robs. One of the strateeies recommended in the Tri-Valley Business Council's report is to reduce the impediments to retaining innovative talent in the Tri Valley by improving housing affordability. Fiscal Revenues In recent years it has become increasingly difficult fox local governments to collect adequate revenues to cover the costs of providing services to residents and businesses. The amount of revenues available, especially from property taxes, has been substantially reduced, while the cost of providing services has continued to increase. As a result, local governments have come to rely more heavily on other sources of revenue, thus altering their approach to land=use planning and development. Some local governments are now tending to place a greater emphasis on the fiscal impacts of land use decisions and a reduced emphasis on creating balanced communities. Many have encouraged commercial development in order to increase sales tax revenues, or have sought industrial or high-end residential development which tend to bring in greater property tax revenue. The push fox revenue- generating development has encouraged rapid urban expansion, and has created competition among jurisdictions fox projects. Among the consequences ate a lack of affordable housing, and traffic congestion because of the long commutes between housing and jobs. Subregional Planning 060507, redline 1FI114-14 CilyCouncil6/5/2007