Sample Email Text
Dear [Council Member],
I am concerned about the growing issue of vacant commercial properties across Sacramento. This is a problem that stems from a broader market failure, where properties are not priced competitively. The high stock of vacant commercial properties is driven by speculative investments that squander valuable urban resources and hinder our community’s development. I urge you to consider a targeted policy that uses a time-triggered fee mechanism to incentivize property owners to adjust their rental rates until regular occupancy is achieved.
Defining Vacancy and Underutilization
If a property remains unleased for 90-or-more consecutive days, and is not under an active development agreement, then the property should be categorized as underutilized, and fees should be collected monthly.
Graduated Fee Structure
A tiered fee approach can discourage speculative pricing while giving property owners a clear incentive to adjust their rates competitively:
- Base Fee: Impose a moderate fee once a property qualifies as underutilized. The base fee should be a fixed percentage of the asking rental rate for the property (e.g. 10% of the monthly rental rate).
- Abandoned Lots and Unlisted Spaces: For abandoned lots or properties that are not actively marketed and remain vacant, the applicable base fee should be calculated using prevailing market conditions. For instance, rental rates and property values affiliated with properties in close proximity to the vacant property with a similar lot size could serve as an adequate proxy for the fair market value.
- Escalation Mechanism: If the property remains vacant, the fee should increase. For instance, every month the fee could increase by a fixed percent. An escalating fee will encourage owners to either reduce their rental rates to reduce vacancy, or to consider alternative uses for the space and pursue active development.
Integration with Broader Urban Revitalization Initiatives
The revenues from these fees should be reinvested in efforts that support the city’s broader economic and community development goals:
- Fund improvements in areas where commercial reactivation is necessary
- Support entrepreneurship and the development of small businesses in Sacramento
- Support affordable housing projects and mixed-use developments, which can stimulate local economies and strengthen community ties.
By implementing a vacancy fee, Sacramento can incentivize more realistic asking rental rates, reduce prolonged commercial vacancies, and transform underutilized properties into vibrant assets for our community. I respectfully ask you to consider these proposals as part of a broader commitment to revitalizing our commercial districts.
Sincerely,
[Your Name]
[Your Address]
Contact City Council:
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