By Thomas M. Sipos

Editor:

Keyser Marston Associates’ report proves that when landlords use the Ellis Act to remove rental units from the market, Santa Monica benefits.

1. The report says that Ellis Act withdrawals create “downzoning.” Many rental units are replaced by a few condos or single family homes.

Excellent! This reduces density, traffic, water usage, school over-crowding, and strains on city services, resulting in a greener, more sustainable city. And progressives complain?

2. The report says that developers are replacing old buildings with new buildings that are sold for “a tidy profit.” Fantastic! This means that our city and schools are likewise raking in massive windfall tax profits.

Read More: http://smdp.com/go-ellis/163410