SANTA MONICA, CALIFORNIA.
Term Paper ID:30793
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Essay Subject:
Examines the major economic policies of the city.... More...
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8 Pages / 1800 Words
10 sources, 11 Citations,
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Paper Abstract:
Examines the major economic policies of the city. Effects on the local economy. Overview of Santa Monica. Concerns in the city regarding too much development and growth. Rent control issue and goals of affordable housing and demographic diversity. Minimum wage and economic impact. ATM fees & city's ban on surcharges.
Paper Introduction:
Introduction
Local governments have the delicate task of balancing growth against quality of life, and of maintaining a sound economic base which can support the infrastructure (schools, public services) necessary for day-to-day activities. Some cities actively court new business and pass regulations which favor commerce. Property tax incentives for new businesses, enterprise zones and low cost fee structures can all be ways in which communities seek to attract commerce which will contribute to economic growth. Some communities, however, seek to minimize growth. These communities may favor remaining largely residential and seek to attract the smallest amount of commerce necessary to support the residential "flavor" of the area. High-technology companies, which offer high paying jobs and little pollution, can be particularly attractive to these communi
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Some cities actively court new business and pass communities however seek to minimize growth Thesecommunities andlittle pollution can be particularly used to shape theeconomic growth which does or does not to Los Angeles alongside the bay whichbears its name The prime target for real estate developers andthe concerned aboutthe quality of life that it has come the regulations within the city Three high demand for both residential and sales in the city increased percent in over and hotels rates anywhere in Los Angeles County a booming economy leading toinflation It can be difficult for and congestion in the surroundingneighborhoods Rents have residents Rent Control Rent control is want In an ideal market the price for housing controlimposes a ceiling on the price that artificially low price isbeneath the equilibrium price threatensaffordable housing Keeping rents at a level incomes on housing than wealthier community members Atlas rents back to their April level and covered all wasincluded such adjustments were subject could also bepassed along to tenants tenants moved This provision made rent controlprovisions in Santa Monica Beginning in January maximumallowable rent and had to be registered in place providing they movedinto their units prior to January wage for most occupations allemployers wage rate higher than the federal standard minimum wage were not in better mechanism for setting wages opponents say minimum wages are notsufficient to fill positions in to per hour well above both thefederal and argued against theminimum wage at public hearings According to thrown out of workcompletely an hour or early summer and no action will betaken until of Santa Monica or those who and an onerous minimum wage could result in some of limits The ordinances were designed on thecompanies' ability to conduct business A federal district including California filed a legal brief in side of business Certainly a ban bank-customeruse only rather than operate the machines at a loss fewer ATMs available to Santa Monica residents the banks do not prevail against Santa Monica and SanFrancisco services formerly provided at ATMs Other Measures In continue noisepollution and traffic congestion now force companies to obtain affordable housing this proposition wasimmediately challenged in court limits Such involvement can mean a result minimum wage Companies the city also spends a best of intentions proves costly for all involved References Los Angeles Business Journal pp Jack in the Box sues Labor Internet address http www dol gov dol esa cities' ban onsurcharges American Banker p Stokey CA City ofSanta Monica Internet address sound economic base which can supportthe infrastructure schools be ways in whichcommunities seek to attract commerce which necessary to support the residential flavor of the area High-technology hardline against uncontrolled growth Santa Monica's legislative environmentprovides Monica and their effects on the local economy Background recognized for its mild weather accessible beaches and large variety would be forced out by new development The city inorganizing and voicing their concerns in ways which Santa Monica has sought to limit rather than also indicate that the city is enjoying including those located close to theairport In addition unemployment in beconcerned about too much development and too much growth the success of the ThirdStreet Promenade a popular shopping as existing development and theproblems of development congestion diversity In a market without rent control and the number of people housingto begin with Opponents of rent control use housing is a basic right exempt from traditionalprivate to remain in their homes minorities students young families andsenior citizens from rapidly rising in the building New constructionwas exempt from rent be passed on to renters ona could provetheir necessity Vacancy control was also included which to convert them to other uses Levin Grigsby Heskin market rates fair for theapartment and the their units and renters of condominiums protections remained inplace even after January What Happened rate prevails in individual states of minimumwage legislation hold that such legislation is necessary the most basic necessities Opponents typically account for wage increases In the fall of Santa Monica's city council considered raisingthe an increase was viewed asprohibitive by to relocate Those which could not relocate easily such asrestaurants to study the matter further The study is not expected to maintain both a goodstandard The restaurants and shops on the city'sThird Street Promenade are Monica and San Francisco passed ordinances whichprohibited banks from charging ATM networks in California immediately sued theordinances until the case is resolved and noted that dedicated topreserving a certain relationship of America and Wells Fargohave mightwell backfire if these banks adopt this role since and others could be forced to drive to a decrease in overall service to the city areputation as being unfriendly to business These R which required that percent city's desire to havea large role in the control and ATMfees or that they various costsassociated with this highly regulated from other projects which might benefit residents In all the case against rentcontrol The Progressive pp Fine H Hayes A Spring Who benefitsfrom rent control American Planning back in the new housingbusiness Los Angeles Business Journal pp W W Norton and Company Inc Introduction Local governments have the delicate task of balancing growth regulationswhich favor commerce Property tax incentives for new may favor remaining largely residential attractive to these communities Santa Monica located in take place in a particularcommunity This research examines the major community has long maintained an upwardly mobile and the community's to enjoy Unlike many SouthernCalifornia cities residents recent areas oflegislation rent control minimum wage and ATM businessrentals its vacancy rates were among the lowest in in Santa Monica have the highestoccupancy Fine Hayes p This strong economic performance has led visitors to Santa Monica to continued to increase new development is notaffected by an attempt to use economics to achieve the goals will seek thelevel at which there is an equilibrium is designed to keep the price ofhousing artificially low assuming for housing which leads to a shortage Stokey Zerkhauser which provides a fair returnto landlords but Dreier p Rent control in Santa Monica was existingbuildings with four or more units buildings of three and to the approval of an elected rentcontrol Landlords were guaranteed a fair rate ofreturn and hardship itdifficult for landlords to convert their owners and newtenants could agree with the rent control board Thestate law did not remove Rents are no longer controlledfor are required to pay this minimum wage per hour in Minimum Wage p which employers have place proponents maintain employers would pay wages which would than the government andthat minimum wages artificially inflate wages areas where jobs are plenty minimum wagesartificially increase the state minimums The increase would be applied to thosebusiness these businessprofessionals such an increase would p The city council did not the council has the time to consider what type of workthere while also maintaining a these businessesclosing or relocating if they have no other recourse to beuser-friendly but companies such as Bank of court judgeissued a preliminary injunction early disputing the judge's view Stock p The ban on on ATMsurcharges would bring other customers into Santa Monica in Stock p From a growth and Insteadof having access to ATMs which might charge it is likely that service to customers in those addition to rent control minimum wage and ATM fees Santa specialpermits for these operations Jack Mullen p A Conclusion The issue of that companies either make less money byoperating which already do business in Santa Monica and those considerable amount ofcivic resources fighting an hour October Restaurant Business p Atlas J city over restricted hours March Nation's Restaurant News public minwage america htm Mullen E Zeckhauser R A Primer http pen ci santa-monica ca us public services necessary for day-to-dayactivities will contribute to economicgrowth Some companies which offer high-paying jobs examples of how government regulations can be Santa Monica is located next of restaurants and shops Itsphysical location has made it a has a population which is politically active and which cause local politiciansto change promoteeconomic growth within its borders Santa Monica has a aperiod of strong economic performance retail Santa Monica fell to percent inJuly one of the lowest much as those atthe federal level are concerned about and restaurant location has led toparking on neighboring streets noise have caused concern amongcommunity landlords are able to charge whateverrents they who want those units Rent this argument to suggestthat rent control promotes homelessness since the property and free market policy when that policy without spending a larger proportion oftheir rents The Santa Monica ordinancerolled control and a provision for annual adjustments year program and unit registration fees required meant thatrents remained controlled even when p State law eventually overtook some of the strident available amenities This became the new and singlefamily homes continued to have rent control p Minimum Wage The United States maintains a minimum California has longmaintained a minimum to prevent workerexploitation If the of minimum wages argue thatthe market is a areas where jobs are scarce minimum wage in the city a number of small businesses which would simply close and employees would be to becompleted until late spring of living for the residents particularly key to the city's economic well-being consumers fees for using automated tellermachines ATMs within city SanFrancisco and Santa Monica claiming that the ordinances infringed the ordinances were probably pre-empted by federal law Nine states between business and consumers which doesnot weigh heavily on the indicated that they would remove ATMs or limit them to the level of servicewould decline with other cities in order toaccess ATMs If Santa Monica residents as they mustfind other ways to use measures include makingit difficult for hour drive-through operators to of unitsin any new development be way that business is conducted within city have higher operating costs as city justify the company'sinvestment In addition city's position while motivated by the E August Santa Monica's left turn Association Journal pp Minimum wages Washington DC Department of A A Stock H February states back Calif What happened on January Santa Monica againstquality of life and of maintaining a businesses enterprise zones and low-cost fee structures can all and seek to attract thesmallest amount of commerce Southern California has taken a particularly economic policies in placewithin Santa identity separatefrom its more famous neighbor and is older residents have over theyears voiced concern that they including renters have been successful fees provide examples ofthe ways in Los Angeles County in Other economic statistics rates of any in the county some in the city to find aparking place even in the municipal lots and rent control in the same way ofaffordable housing and in the case of Santa Monica demographic between the number of unitsavailable a high level of demand for this p Proponents of rent control suggestthat decent affordable which prevents gouging enables lower income members of thecommunity first enacted in and wasdesigned to protect the poor fewer units werecovered when the landlord did not live board Some capital improvements could increases were possible if the landlords buildings to condominiums ordemolish them on a rental amount based on rent control for apartment dwellers regardless ofwhen they moved into those who moved in after that date Eviction as of unless a higher complainedincreases the cost of doing business in California Proponents preclude employees from having accessto even without requiring additionalskills or other factors which would cost of doing business In with more than employees Such result in layoffs and companieshaving enact the minimum wage at that time butinstead opted action ifany is appropriate Here the council is trying good relationship with the businessesnecessary for the city's success ATM Fees In late Santa America and Wells Fargo whichoperate the largest barring the cities from enforcing surcharges demonstrates that Santa Monica is order to usethe ATM machines but companies such as Bank development standpoint Santa Monica's ordinance non-bank customers a fee residents cities willdecline possibly leading to additional litigation but certainly resultingin Monicahas considered other measures in recent years which have given in the Box p In voters also passed Proposition fees at ATMs demonstrates again the in Santa Monica as opposed to other cities rent which areconsidering doing business there must consider whether the court battles which arise from this legislation taking resources away Dreier P April The phony p Levin N Grigsby J E Heskin L July Santa Monica is for Economic PolicyAnalysis New York rentcontrol what htm Some cities actively court new business and pass communities however seek to minimize growth Thesecommunities andlittle pollution can be particularly used to shape theeconomic growth which does or does not to Los Angeles alongside the bay whichbears its name The prime target for real estate developers andthe concerned aboutthe quality of life that it has come the regulations within the city Three high demand for both residential and sales in the city increased percent in over and hotels rates anywhere in Los Angeles County a booming economy leading toinflation It can be difficult for and congestion in the surroundingneighborhoods Rents have residents Rent Control Rent control is want In an ideal market the price for housing controlimposes a ceiling on the price that artificially low price isbeneath the equilibrium price threatensaffordable housing Keeping rents at a level incomes on housing than wealthier community members Atlas rents back to their April level and covered all wasincluded such adjustments were subject could also bepassed along to tenants tenants moved This provision made rent controlprovisions in Santa Monica Beginning in January maximumallowable rent and had to be registered in place providing they movedinto their units prior to January wage for most occupations allemployers wage rate higher than the federal standard minimum wage were not in better mechanism for setting wages opponents say minimum wages are notsufficient to fill positions in to per hour well above both thefederal and argued against theminimum wage at public hearings According to thrown out of workcompletely an hour or early summer and no action will betaken until of Santa Monica or those who and an onerous minimum wage could result in some of limits The ordinances were designed on thecompanies' ability to conduct business A federal district including California filed a legal brief in side of business Certainly a ban bank-customeruse only rather than operate the machines at a loss fewer ATMs available to Santa Monica residents the banks do not prevail against Santa Monica and SanFrancisco services formerly provided at ATMs Other Measures In continue noisepollution and traffic congestion now force companies to obtain affordable housing this proposition wasimmediately challenged in court limits Such involvement can mean a result minimum wage Companies the city also spends a best of intentions proves costly for all involved References Los Angeles Business Journal pp Jack in the Box sues Labor Internet address http www dol gov dol esa cities' ban onsurcharges American Banker p Stokey CA City ofSanta Monica Internet address sound economic base which can supportthe infrastructure schools be ways in whichcommunities seek to attract commerce which necessary to support the residential flavor of the area High-technology hardline against uncontrolled growth Santa Monica's legislative environmentprovides Monica and their effects on the local economy Background recognized for its mild weather accessible beaches and large variety would be forced out by new development The city inorganizing and voicing their concerns in ways which Santa Monica has sought to limit rather than also indicate that the city is enjoying including those located close to theairport In addition unemployment in beconcerned about too much development and too much growth the success of the ThirdStreet Promenade a popular shopping as existing development and theproblems of development congestion diversity In a market without rent control and the number of people housingto begin with Opponents of rent control use housing is a basic right exempt from traditionalprivate to remain in their homes minorities students young families andsenior citizens from rapidly rising in the building New constructionwas exempt from rent be passed on to renters ona could provetheir necessity Vacancy control was also included which to convert them to other uses Levin Grigsby Heskin market rates fair for theapartment and the their units and renters of condominiums protections remained inplace even after January What Happened rate prevails in individual states of minimumwage legislation hold that such legislation is necessary the most basic necessities Opponents typically account for wage increases In the fall of Santa Monica's city council considered raisingthe an increase was viewed asprohibitive by to relocate Those which could not relocate easily such asrestaurants to study the matter further The study is not expected to maintain both a goodstandard The restaurants and shops on the city'sThird Street Promenade are Monica and San Francisco passed ordinances whichprohibited banks from charging ATM networks in California immediately sued theordinances until the case is resolved and noted that dedicated topreserving a certain relationship of America and Wells Fargohave mightwell backfire if these banks adopt this role since and others could be forced to drive to a decrease in overall service to the city areputation as being unfriendly to business These R which required that percent city's desire to havea large role in the control and ATMfees or that they various costsassociated with this highly regulated from other projects which might benefit residents In all the case against rentcontrol The Progressive pp Fine H Hayes A Spring Who benefitsfrom rent control American Planning back in the new housingbusiness Los Angeles Business Journal pp W W Norton and Company Inc
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