Los Altos Mayor Pro Tem Val Carpenter was pleased to announce to local REALTORS® that the city is thriving and its financial position is very sound.
"We have carefully managed expenditures during the years and have substantial increases to our reserves and invested in infrastructure. Property taxes have continued to rise, so it puts us in a lot better position than most cities, Carpenter told members of the Silicon Valley Association of REALTORS® at their meeting in Los Altos last week.
Carpenter, who has been on the Los Altos City Council since 2005 and served as mayor in 2007-08, said the county assessor's 2011-2012 report states the city of Los Altos experienced solid growth at 3.59 percent during the year. The Los Altos Village Association reports the downtown store vacancy rate is at 6 percent, "the envy of neighboring communities." In the past six months eight businesses have signed leases. She proceeded to name a number of new restaurants and shops that have sprouted in the city, including the Greek restaurant Opa!, Bumble and Skateworks.
The city is investing millions of dollars on infrastructure in its effort to improve downtown landscaping. This means providing outdoor seating, adding public art, widening sidewalks, improving crosswalks and rebuilding intersections. Carpenter said the construction has been an inconvenience to businesses, "but it's worth it. It tells businesses that Los Altos cares."
Up ahead is a plan to place a fence along the entrance to Plaza 3 to screen the backs of buildings and parked cars and create a more inviting look for customers. Then there's new construction on the Packard Foundation building, plans for a new mixed-use development, a boutique hotel at the entrance of downtown, and new residential condo projects. Carpenter said recent changes in zoning regulations have encouraged development and shows the city is proactive in its support for downtown businesses. As businesses thrive, sales tax revenues, property values and property tax revenues increase.
Downtown parking is an issue, said Carpenter. She noted parking spaces are about 85 percent filled, especially during busy times like the noon hour and on Fridays. There are proposals to add more parking and even lengthen free parking from two to three hours.
Carpenter's term ends in 2014, and she has many goals she wants to accomplish before then. A resident of Los Altos since 1991, Carpenter said she wants to maintain and foster Los Altos as a great place to live and raise a family. She also wants to hire a new city manager to replace Douglas Schmitz, who will be retiring effective March 31, 2012. She praised Schmitz and lamented that his retirement will be a loss to the city.
"Who runs the city is an important part of who we are," said Carpenter.
In addition, Carpenter wants to maintain the budget with no cuts to services and staff, while increasing the city's reserves and investments. She also wants to see through the funding, designing and breaking ground of the first phase of the Civic Center overhaul. She said the city is eyeing a bond measure next year to help finance the project's cost.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.