Quick Take
Both Measures B and C saw hundreds of thousands of dollars roll into the respective campaigns, but there are some notable differences. Measure C saw nearly $100,000 more donated than Measure B, which had only three major contributions, all from different realtors organizations.
As the city of Santa Cruz’s dueling housing measures head to the finish line on Tuesday, each campaign has raised several hundred thousand dollars, but where that money comes from differs noticeably. Measure B came entirely from the real estate industry, while Measure C came from a mix of elected officials, housing developers, labor unions and political groups.
It’s been a long road for both measures, stretching all the way back to 2023, when Mayor Fred Keeley hosted a public meeting which evolved into Measure C, named the Workforce Housing Affordability Act. Then, earlier this year, the Santa Cruz County Association of Realtors drafted its own measure, Measure B, named the Workforce Housing and Climate Protection Act, designed to defeat Measure C. Both measures eventually qualified for the ballot amid rising tensions, and will require 50% plus 1 of the vote to pass. The one with the greater “yes” vote over that threshold would win.
MORE ON SANTA CRUZ BALLOT MEASURES: Read Lookout’s previous news and Community Voices opinion coverage here
Measure C proposes a $96 annual parcel tax and a graduated real estate transfer tax that starts at home sales above $1.8 million, with the total transfer tax capped at $200,000 per transaction. It aims to raise $4.5 million a year. Meanwhile, Measure B has a similar structure, but the parcel tax is set lower at $50 and it also imposes a transfer tax only on home sales about $4 million, with a $100,000 cap per transaction.
Measure C proponents argue that the city requires a steady stream of local funds to keep affordable housing developments moving forward and to improve homelessness prevention while exempting lower-income and senior homeowners. They add that Measure B would both raise less money and confuse voters more. On the other hand, realtors argue that Measure C is onerous and unfair to homeowners and that it’s a city-backed measure rather than a true grassroots initiative.
With a little over 24 hours before the polls close, here’s how each measure’s campaign finance has shaped up from the start of the year through Oct. 18. The listed amounts solely include cash contributions from individual donors. They do not factor in loans that the committees received, nor do they reflect non-monetary contributions that the committees received or cash spent thus far.
Measure C has raised nearly $100,000 more than Measure B, having brought in $325,993.29 as of Oct. 18, the final date covered in the campaign finance disclosure forms filed thus far. That compares to $232,099 raised by Measure B.
Both measures received hefty donations from political action committees (PACs) and other large organizations, with all of the money raised for Measure B coming from real estate industry groups. Since the beginning of the year, the campaign has received three major donations that make up its entire fundraising: A $75,000 contribution and a separate $7,000 one from the California Association of Realtors Issues Mobilization PAC on March 24 and Aug. 7, respectively, along with a $150,000 contribution from the National Association of Realtors on Sept. 8.
Measure C, on the other hand, saw quite a few contributions from individuals, though many are or have been involved in local politics. Those include Mayor Fred Keeley, former mayor and Housing Matters board of directors president Don Lane, former Capitola City councilmember Alexander Pedersen, former longtime Santa Cruz County clerk and current state Assemblymember Gail Pellerin, the ballot measure committee of Assembly Speaker Robert Rivas, Friends of the Rail and Trail board chair Matt Farrell and outreach and development coordinator Sally Arnold, and Workbench developer Sibley Simon.
However, Measure C has received plenty of contributions from companies and organizations, too. Those include MidPen Housing Corporation, Green Valley Corporation, Santa Cruz Apartment Investors and Santa Cruz Housing Investors, Silicon Valley Rising Action, Service Employees International Union Local 521 Candidate PAC, the Democratic Women’s Club of Santa Cruz County, and the Santa Cruz County Democratic Central Committee.
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