Keeping West Wendover Affordable: Housing Plan
West Wendover is in the midst of an economic boom the likes of which we haven’t experienced since the late 80’s. Just as the gaming industry brought jobs to the area, the cannabis industry has the potential to increase employment opportunities by several hundred positions. Which means the growth we are already seeing in our community will begin to increase at a more rapid pace. While this makes for an exciting time to call West Wendover home & to serve as its Mayor this new interest in our community is also bringing the early signs of a housing crisis with it, one I believe if we are proactive we can avoid. I am a firm believer in always being proactive where we can to save from the mistakes that we often make when forced to be reactive during times of cirisis. That is why the first plan that I am rolling out in my re-election campaign (and one of the biggest priorities for my second term) is my plan on housing & keeping it affordable for all those who call West Wendover home.
The centerpiece of my housing plan is our Downtown Project which has been in the making for several years (original plans do not include housing). We are now in the final stages of purchasing the land for Downtown from the BLM, making for perfect timing as we have this discussion on housing. This is a complex problem that needs a multifaceted approach which is why I am proposing a number of creative solutions within Downtown such as inclusionary zoning, exclusionary zoning (blocking single family housing developments in Downtown), community land trusts, and using bond capabilities to create a shared equity program we will be able to ensure that new housing within Downtown will not only be affordable in the short term it will have lasting affordability.
Inclusionary zoning will allow the City to require any new developments within Downtown include a set number of affordable units in many Cities there are also opt out fees that developers can pay to help fund housing programs. I believe that utilizing inclusionary zoning will not only help us bring in new affordable units it will also help bring in market price units which are also a need within the community.
Exclusionary zoning allows the City to set the parameters of types of housing units allowed within Downtown. Utilizing exclusionary zoning we can block single family units to not only increase density but to also encourage the development of multifamily units which are naturally more affordable.
Community land trusts (CLTs) have been around for a while but haven’t really gained any traction until very recently, in fact the first one in Nevada was formed very recently in Reno. These trusts allow the community to own land on which developments occur the owner of the units own the units with a long term lease with the trust on the land. CLTs are also typically set up with covenants that set caps on resale amounts within a certain span of time to discourage affordable units being flipped within a few years & sold at much higher rates. CLTs are controlled by CLT boards that are made up with homeowners, community leaders, & other stakeholders. In West Wendover I believe that we will be able to utilize CLTs in Downtown to not only provide sections within the area with affordable housing but also affordable commercial space for community members to start small businesses in a space that they are able to flourish.
The last proposal in my housing plan is the creation of a Shared Equity Program, funded through inclusionary zoning opt out fees & a portion of revenues from cannabis excise fees. This program will help families at 60% or below our community’s median income level who are able to qualify for housing but need help with down payments to help bring a home down to their affordability range. Through this investment by the program families will be able to afford their dream of home ownership & the program will have shared equity in the home which upon resale will be paid back into the program based on the percentage of original investment. This program will over time help pay for itself while investing in our community, knowing that homeownership is that best path out of poverty for many.
I truly believe that by taking this approach that is committed to progress while staying dedicated to community we will be able to create pathways to affordable housing for those who need it, opening up apartment units in the process & adding much needed housing units to the housing stock in our community. West Wendover is on the verge of exciting growth and I believe that it is critical that we ensure that the number of affordable housing units in the community keep up with our economic & population growth!
In order for us to enact this plan we need your help getting our message out to the community, please consider visiting https://secure.actblue.com/donate/corona-for-mayor-1 to contribute anything you can to help us build our grassroots campaign.
If you have any questions or even suggestions I would love to hear them, please send me an email at danieljcorona@gmail.com!