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Gayle Petersen = transfer-tx-position.doc -- Page 1 1EAf*.q&1r ASSOCIATION OF REALTORS' 7901 Stoneridge Drive, Suite 150 Pleasanton, CA 94588 (925) 730-4060 Fax (925) 730-0237 1-800-773-3103 httn:11www. baueast. orz to San Leandro Transfer Tax Exemption Program Attachment 5 BACKGROUND In March, 2000, we became aware that a measure would be placed on the November, 2000 ballot in the city of San Leandro to rescind the transfer tax. The Bay East Association of REALTORSO has a long history of opposing transfer taxes based on the premise that it singles out one specific group to pay for benefits that the entire community will receive. This is also the official position of the state (California Association of REALTORS®) and national (National Association of REALTORS®) associations. The Local Government Relations Council of Bay East was preparing to launch an aggressive campaign for the passage of Measure G. The plan was to design a campaign similar to the very successful one that we had in Union City and Dublin against transfer taxes. The Bay East Board of Directors passed a motion to support all efforts to support Measure G. And the IMPAC Trustees allocated an initial $9,000 for polling purposes. Our state Association Political Action Fund Trustees had been contacted and were planning to add their financial support to our efforts. The city approached us and asked if we would consider a transfer tax exemption program as an alternative to the transfer tax rescission. Our LGR Council met and reviewed the proposed ordinance to amend the transfer tax to create exemptions. A motion was passed by our Board of Directors to rescind our plans to support Measure G based on a copy of the information draft ordinance and memo we received from San Leandro City Attorney, Steven Meyers to the Council Ad Hoc Committee on Real Property Transfer Tax dated July 7, 2000. We remained silent during the Measure G campaign. We were told that the exemption program would take effect on Wednesday, November 8, 2000, should Measure G fail. It is now a full year later. We are still waiting for the exemption program. We were told that it would take until January to implement the program. January turned into March, June, August, September.........: We took the initiative to meet with the city staff to discuss the implementation issues. We arranged for staff to meet with representatives of the title companies to discuss the implementation. We have worked with the city to create a program that everyone can live with. There have been a number of concessions made by the Association during this process by request from city staff. The most obvious is the change from an exemption program to a rebate program. s47