Industry News
CBIA's popular e-mail containing summaries and links to the day's top housing and homebuilding news from major California media outlets is online. Current summaries are posted below. Members or press can subscribe to this free service.
July 3, 2008
Fees and Costs
- Reminders to continue on possible fee for Fix 5
Redding Record Searchlight
Despite the fact that the fee doesn't exist, developers planning homes, offices or shopping centers in Redding will continue receiving reminders they may one day have to help widen Interstate 5 through the center of town. The California Department of Transportation has been asking city planners to tell developers they must pay a Fix 5 fee -- provided the City Council has imposed the fee when it's time to build.
- Milpitas Unified ineligible for higher developer fees
Milpitas Post
The Milpitas Unified School District is not currently eligible to apply for higher Level II developer fees to offset future enrollment spikes due to new homes, according to Assistant Superintendent of Business Services Phuong Lee. Lee reported at the June 24 meeting of the Milpitas Board of Education that a consulting firm hired by the district found that it did not meet all the criteria required to collect steeper fees. The district's pursuit of Level II fees is largely driven by the proposed Transit Area Specific Plan in southern Milpitas, and the school expansion the development would necessitate. The district contends that the addition of 7,100 housing units in the Transit Area would require the district to build a new elementary school to serve those residents.
Affordable Housing
- City housing should work for middle class, too
San Francisco Chronicle
San Francisco has a huge problem with getting people into housing. But not in the way you think. The homeless guy living under the freeway underpass? We know about him. The city, prompted by an outcry from the progressive community, has taken steps to get that person - the extremely poor, unemployed, impoverished homeless camper - into some kind of housing. But while the city spends hundreds of millions of dollars to house the extremely poor, there is a large segment of its population - hard-working, fully employed and stable - that makes too much money to get the help they need to find affordable housing.
Land Use/ Planning
- South Hills preservation goes to voters
San Bernardino Sun
Loma Linda voters will decide in November whether to protect nearly 1,700 acres of land in the South Hills. The City Council on Tuesday night voted to place the "Open Space Protection Measure" on the Nov. 4 ballot. Under the initiative, about 1,675 acres of undeveloped city-owned land south of Hulda Crooks Park, roughly between San Timoteo Canyon Road and Reche Canyon Road, would be set aside for open space and recreational purposes such as hiking and mountain biking. If voters approve the new initiative, it would leave several hundred acres of privately owned land on the edges of the hills potentially available for development.
- Milpitas planners OK 80 homes in industrial zone
Milpitas Post
City officials last week recommended bringing in 80 new single-family homes on property next to an active industrial zone. Milpitas Planning Commission voted 6-1 June 25, with Commissioner Gurdev Sandhu dissenting, to recommend approval for rezoning a 9.65-acre site consisting of five parcels on Sinclair Frontage Road, north of Wrigley Way and west of Interstate 680. The change from heavy industrial to single-family residential would allow Fremont-based developer Mission Peak Homes to demolish the existing low-rise industrial Sinclair Business Park.
- Bay Area developers bringing 'green' concept to McCloud
Mt. Shasta News
San Francisco based McCloud Development Corporation is looking to make McCloud a destination on the sustainable living map. The corporation announced on Friday its plans to develop a sustainable or “green” destination resort and housing subdivision in the town. The 70-acre project site is located on the eastern edge of town bordered by Hwy. 89 and Haul Rd. The resort will ultimately consist of 25 single-family homes, many of which will be available as vacation rentals, and a hotel complex, all built according to sustainable or “green” guidelines, said Hurley.
- Despite protests, Oceanside council allows condo project
San Diego Union-Tribune
A controversial condominium project was approved last night by the Oceanside City Council over the objections of dozens of neighbors. The council voted unanimously to uphold the city Planning Commission's approval of the 36-acre Oceanpointe project off Stage Coach Road. Residents complained about traffic, loss of views and possibly unstable slopes in the project. Resident Linda Curtiss, who filed the appeal with the council, said additional traffic from the 158-unit development would trap residents in their driveways.
- Laguna Ridge project gets green light
Sacramento Bee
The Elk Grove City Council has given the green light to developing a prime section of Laguna Ridge, including a long-awaited lifestyle retail center west of the planned Civic Center. On June 25, the council voted 5-0 to grant rezoning and entitlements for the Laguna Ridge Town Center, which is to include Elk Grove's first hospital. The rezone eliminated some home sites, but developers will in- crease housing density in other areas.
Market
- Lenders Help Fewer Homeowners In May
Washington Post
The mortgage industry helped 170,000 at-risk homeowners with their troubled loans in May, down about 7 percent from the previous month, according to industry figures released yesterday. The figures come as legislation aimed at helping hundreds of thousands of homeowners avoid foreclosure awaits a vote in Congress and the industry is facing pressure to do more for troubled borrowers. Foreclosure rates are increasing nationally and locally.
- More banks are helping hurting homeowners
San Francisco Chronicle
Banks in the state and nationally are slowly helping more struggling owners stay in their homes, according to several reports released Wednesday, although the mounting toll of defaults, foreclosures and "under water" homes continues to raise serious concerns. Three groups - Hope Now Alliance, a coalition of banks; California's Department of Corporations, which is tracking Gov. Arnold Schwarzenegger's agreements with banks; and the California Reinvestment Coalition, which surveyed nonprofit housing counseling agencies - weighed in Wednesday with updates on loan modifications and other plans to help borrowers.
- California Senate passes mortgage default warning bill
Los Angeles Times
The first major bill designed to help prevent more home foreclosures in California won final passage from the state Senate on Wednesday and was sent to the governor, who was expected to sign the measure into law. The legislation, which passed on a 32-8 vote, would require lenders to give homeowners more -- and earlier -- warnings that their home loans were heading toward default. The bill, SB1137, would take effect immediately once it had the signature of Gov. Arnold Schwarzenegger.
- Housing market crisis? Not in St. Helena
St. Helena Star
Foreclosures? Defaults? Falling home prices? Fire sales? These are like foreign words to St. Helena homeowners, who have remained relatively unscathed by the badly troubled housing market going on all around them. While housing values have nose-dived to their lowest levels in more than two decades in the rest of Napa County and elsewhere in California, home values in St. Helena have remained relatively steady over the last five years.
