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Minutes - City of San Leandro City Council, San Leandro Redevelopment Agency, and San Leandro Public Financing Authority Joint Meeting -- October 15,2001 Page 15 (5) Taxpayers who paid Real Property Translcr Tax on property received by way of charitable donations; (6) Owners who inherit single-t~11l1i]y residences and condos (these transfers arc exempt). City Council discussion ensued rcgarding what had been convcycd to the public when the Real Property Transfer Tax Measure was on the ballot. The City Manager reviewed the previously proposed areas where exemptions might be provided if Measure "0" Hiiled. He indicated what was not discussed were the mechanics of how those changes/exemptions might be implemented. Council expressed fhlstration with how the perceived exemptions have been intelvreted and noted that the tem1 "first time homcbuyer" was ncver fully explained. Mayor Young invited the public's comments at this time. Al Rosenga, 534 Parrott Street, addressed the City Council on behalf of buyers and sellers. He indicated his first concern is the buyer ancVor seller and that there is a fiduciary responsibility to both. lIe said many realtors who would have bccn at this mceting were at the opening of a convention in San Diego. He expressed concerns with the proposed percentage split of the property tax fee to be paid and the definition of "first-time homebuyer." Nancy Rogers, Bay East Association of Realtors, Public AffaiJ's Director, indicated that an agreement had been reached on Inost of the points that were brought to you tonight by Mike White and the City Manager, but there are a couple of items that they still have concerns about. She expressed concern with thc definition of first time homebuyer, the percentage of split of the tax, and the sunset clause. Derek Rinetti, 2715 Darius Way, addressed the City Council indicating he has worked in the real estate industry and is here to speak to the other side of this issue. He stated that in 10 years this tax has not killed one deal in his real estate office and is nothing compared to what has been gained from the tax. He stated he feels the proposed exemptions are discriminatory and regressive. Phil Hunt, Coldwell Banker Real Estate, 1377 Sandelin Court, addressed the City Council and stated he's been a realtor for 32 years in San Leandro. He feels the Real Property Transfer Tax is unfair to everyone and concluded by stating he doesn't know what the funds from these taxes support but feels it can be funded from somewhere else.