We have seen this all before – disaster capitalists will rush into disaster-stricken areas and exploit residents’ vulnerable position to rapidly seize land and profit from funds meant for residents to recover. However, residents were quick to name this evil and demand that their elected officials enact a Wildfire Recovery Plan that will prevent rampant speculation from unscrupulous investors and prevent the displacement of Altadenans who have had to flee.
The Los Angeles Community Land Trust Coalition has answered this call by proposing an Anti-Displacement/Anti-Speculation Wildfire Recovery Plan which calls on elected officials to enact measures that will allow Altadenans to return, rebuild, and remain.
We are working to get elected officials to enact:
- A speculation surcharge and/or a property flipping tax that will prevent speculators and investors from trying to gobble up real estate in disaster-stricken areas and generate much needed revenue to support a community-driven rebuild.
- Local Preference Policy – A right for displaced residents to return to their homes.
- Expand the Land Bank Pilot Program – Residents need their government to help acquire land from those who are unable to rebuild and ensure that trusted nonprofits like CLTs are able to receive and purchase this land at the behest of the community.
- Community Opportunity to Purchase Act (COPA) – To stave off investors and speculators, elected officials should enact COPA in order to give values-aligned nonprofits like CLTs the right of first offer and right of first refusal. This will ensure that land remains in community control and allow tenants and those who are unable to rebuild an opportunity to recoup their equity while being retained in the place they’ve called home.