An email To Rob Moore re: the risk to Los Gatos of you not doing your job.

Regarding our Comment presented for the 6/4/24 Council meeting – Item 17
Rob, we would be delighted to sit down with you and fully explain our concern. If you didn’t understand our letter, why not reach out directly and ask us for clarification? Wouldn’t that have been the responsible action to have taken as opposed to posting nonsense on NextDoor? How is that helpful to anyone?
To be clear the LGCA letter simply advocated the TC fully understand the impact of the State’s “no net loss rules” on the draft Housing Element since the Housing Element site inventory does NOT reflect the planned development of the North 40 and Los Gatos Lodge parcels. We trust you understand this.
The planned development for these parcels will result in materially less affordable units being built than what the Housing Element site inventory has planned and result in the Town not meeting its RHNA affordable housing requirement.  We are surprised that you are seemingly not concerned about this.
This shortfall will trigger the State’s “no net loss” rules that are onerous. Understanding the impact of the “no net loss rules” on the certification status of the  HE prior to adopting the HE seemed prudent to the LGCA. Why would you not want a full and complete understanding of the State housing law?
We are reminded of your claims during the January 30, 2023 TC meeting when you voted to adopt an earlier draft of the HE claiming that it substantially complied with State Law and would prevent any Builder Remedy applications. You were wrong then and clearly didn’t understand State Law. As a result of this irresponsible action (making a legal finding of compliance without ANY supporting evidence is irresponsible) we are now in today’s mess.
The LGCA requested Staff to explain to the TC the planned “cure” to the “net loss“ of affordable housing units stemming from these two developments.  We did this to avoid finding ourselves in the same position we did on January 30, 2023 – namely rushing to take an action in the name of preventing Builders Remedy applications based on an incomplete understanding of the State’s housing laws.
Please feel free to contact us if you truly wish to engage in a reasonable and constructive conversation on this matter.  De-certification of the HE by HCD is a very real possibility if the Town is unable to properly cure a “net loss”. We don’t have to explain to you what that means with regard to any future BR applications.
Some of the above will again be covered in a response to recent comments on Next Door.

Public pensions are mixing risky investments

More than 20 million Americans are covered by state and local government pensions. Unlike the 401(k) plans found in the private sector, these “defined benefit” plans promise to pay retirees a set amount of money every month for the rest of their lives.

For most public workers, these generous programs are a cornerstone of their financial security; for many, they’re one of the main attractions of government jobs. Yet the plans, by their own reckoning, are underfunded to the tune of $1.6 trillion.

Council to Review the Status of the Referendum on 4-2-24

Elections Code Section 9241 requires that the Town Council either 1) place the referendum on
the ballot for the November 2024 general election or 2) rescind its adoption of the Land Use
Element and the Community Design Element. At its October 2022 meeting, the Town Council
deferred making a decision as to which of these actions to take pending consideration of the
then-upcoming Housing Element adoption. The options are discussed in more detail below.
Once this primary decision has been made, there are other possible steps for the Town Council
to direct staff to take, which are included elsewhere in this document.

The Difference Between a Sustainable Budget and a Balanced Budget

posted in: Finance | 0

  A balanced budget isn’t always a healthy one. http://www.governing.com/finance101/gov-what-is-a-sustainable-budget-vs-a-balanced-budget.html BY LIZ FARMER | MAY 12, 2014 This is part of an ongoing series called Finance 101 that explains the basics of public finance for public officials. Most states and many municipalities are legally required … Continued