Opinion: Prop 123 isn’t the right way to tackle affordable housing
Proposition 123 is a state-level initiative to direct taxpayers’ money into affordable housing programs. Ignoring the myriad details, Prop 123 doesn’t institute the preconditions I would require before supporting using state taxes for affordable housing. First, any state-level affordable housing funding should have as a prerequisite that the region is adjusting its zoning to balance jobs and housing growth. Simply put, if a city continually adds more and more job development (office, commercial, industrial, etc.), then it needs to balance that with an adequate amount of housing. And for those who think that continually adding jobs makes a place better off financially, Boulder’s seminal Jobs/Housing Study twenty years ago showed that, at best, it’s break-even regarding operating costs and a net loser when you consider growth-related capital costs. (By the way, Boulder failed to do this balancing with the East Boulder Sub-Community Plan — a missed opportunity.) Second, all job develo...