Thursday, November 1, 2018

Opinion: "Measure U is such a scam that even Goldman Sachs would blush"

Charlie McDermott in the Coast News:
Measure U is an attempt to coerce the residents of Encinitas into gifting our most valuable public asset, our established zoning, to select landowners and developers to enable them to earn an instant risk-free windfall of hundreds of millions of dollars. In return we will get more traffic and infrastructure strain. What the Mayor and her fellow council members will get down the road has yet to be determined – but we have seen this kind of movie before.

Our zoning laws greatly limit what each of us can do with a piece of property. Individually, we all agree to these rules because they limit what others can do with their property and this prevents them from doing something that would negatively affect us. Thus, our city zoning largely determines what each parcel of land is currently worth; and as a whole it defines the character and layout of our city. Literally billions of dollars in Encinitas land value is allocated across the established zonings – and this hidden value is a very tasty pie for special interests.

The Measure U lobbyists are asking us to create a massive exception to the rules to enable them to develop over 2,000 high-density, “up-zoned” housing units, which will allow up to 30 units per acre! Plus it will gut Prop A for good measure.

If Measure U passes, these “special” individuals will enjoy an instantaneous zero risk land value profit in the hundreds of millions of dollars (e.g., 2,000 units x $120,000 land profit/unit = $240,000,000). The total profits when the finished units are sold will be much higher and yet not one penny of this up-zone value will be paid out in fees as dividends to the public or to the City for public infrastructure projects.

Once Measure U passes, we the people will see these units built out ASAP and our local population increase significantly. However, if Measure U fails then developers will have to to buy and develop the land at market prices and under the current zoning rules. Thus they will move very slowly, block-by-block, because of the high costs and free market risks. But if we socialize all the risks then all these units will be immediately built out because so much profit will be baked in from the Measure U land value increase.

Measure U is such a scam, that even Goldman Sachs would blush, but it is right there in black and white for you to vote on. Send a very clear message to interloping developers, Mayor Blakespear, and her comrades in the City council that our town is never ever going to be for sale by voting No on Measure U in overwhelming numbers. Make this one really hurt so the interloping special interests go away for good.

Charlie McDermott, Encinitas

23 comments:

  1. Yeah Charlie way to speak the truth!!!!

    I sure wish our Mayor and City Council Members had your integrity.

    Charlie for Mayor. He shows what it means to be a true Encinitian!!!!

    Our current City Council should hold their head in shame for the next year for the shit they are trying to sell the citizens and the City Managment should be fired.

    Why would you try so hard to change the things that make Encinitas so great? Greed sucks!!!!

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  2. Yeah, you guys ran a great candidate against our Mayor - GOOD LUCK with THAT ONE! If he loses I guess the masses support the direction the Mayor is taking the city. You might want to start right now on finding a new candidate for the Mayor in two years. Because you have a better chance of winning the lottery than your Mayoral candidate does at winning!!!

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  3. 10:18pm- What a joke. The guy running against the current Mayor is not "our guy". The rest of your guess is just stupid.

    If Charlie McDermott ever decided to run for Mayor again the current flop, he would squash her with a huge win.

    Charlie speaks the truth and is supporting what is good in Encinitas. Our Mayor supports selling out our town to developers and promoting Huntington Beach style growth. Shame!!!!

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  4. Here will come Meyer again with his threatening lawsuits. The belligerence of the wealthy, trying to impose their personal economic whims on the community. In Oceanside, the development company trying to defeat Measure Y (voter approval of rezoning agricultural land) has spent about a million bucks to defeat it. Goes to show the potential profits involved in these override measures, which try to cut the general community out of the decision making process. Vote NO on U.

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  5. F Meyer the Ecke Developer sellout slob. How many millions are enough?!!

    The original Ecke is turning in his grave, watching the sellout of Encinitas to develop like Huntington Beach.

    NO on U.

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  6. Whaat is Bruce Ehler's position on Measure U? He's been very quiet!

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    Replies
    1. It is NO. Ask him if you have any doubts.

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    2. Who cares what he thinks. Think for yourself.

      And vote no. LOL

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  7. Just FYI, on the ballot it is easy to miss Measure U on Card B. Measure U is the only item on the back of Card B so make sure to remember to turn it over!

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  8. 11-6-18 The day Measure U died~!

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  9. Crybaby Nazis are the worst kind of Nazis.

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    Replies
    1. I thought that was the only kind of Nazi.

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  10. Trash day, WC! RO is baaaack!

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  11. more units = more property tax

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    Replies
    1. More units = more favors repaid.

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  12. Why was the Measure U item on the very back, back of the 2nd ballot? How many voters missed voting on this item due to its location? It will be interesting to see if the Measure U vote total matches the voter vote total.

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    Replies
    1. Hearing of folks missing it. Not sure how, though - who doesn't flip over the last page?

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  13. 30% of vote counted- Measure U NO vote 51.2%. I'm impressed the Citizens realized the City Management was trying to sell out the City to Developers!

    Heads need to role and quick. The housing element should have been a slam dunk by just trying to upzone the minimum units this time in less desirable locations like east of I5 next to the freeway. There will always be future requirements by the state and future housing element updates and there was no reason to give everything away to the developers in the first update in 20 years.

    Fire the bad one and hire a good City Manager, and take a couple of her failed Department Leaders with her.

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  14. Where are you seeing your Measure U results?

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  15. https://www.livevoterturnout.com/SanDiego/LiveResults/en/Index_5.html

    County webpage

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