August 26, 2025
City Council
DATE: August 26, 2025
TO: Mayor Martinez and Members of the City Council
FROM:
Councilmember Soheila Bana
Mayor Eduardo Martinez (co-sponsor)
Subject:
Presentation to Ban Land Grabs in Richmond - Protect
Housing, Communities, and the Future
FINANCIAL IMPACT: There is no fiscal impact for receiving this item.
PREVIOUS COUNCIL
ACTION:
This item was withdrawn from the June 17, 2025, meeting to come back at a later date as a new item.
STATEMENT OF THE
ISSUE:
The City of Richmond faces rising housing costs,
displacement, and reduced community stability due to the increasing acquisition of residential properties by for-profit corporations and investors. Housing is a fundamental
human need and there is a need to address these
challenges through progressive housing policies. Banning land grab practices aims to prohibit such acquisitions to preserve housing accessibility, affordability, prioritize community-based own ership models, and recognize
housing as a public good.
RECOMMENDED ACTION:
RECEIVE a presentation to Ban Land Grabs in Richmond:
Protect Housing, Communities, and the Future from the
Sustainable Economies Law Center - Councilmember
Soheila Bana (510-672-5242) and Mayor Eduardo
Martinez (510-620-6503).
AGENDA
REPORT
August 26, 2025
DISCUSSION:
The City of Richmond faces rising housing costs, displacement, and reduced community stability due to the increasing acquisition of residential properties by for-profit corporations and investors. Housing is a fundamental human need and there is a need to address these challenges through progressive housing policies. Banning land grab practices aims to prohibit such acquisitions to preserve housing accessibility, affordab ility, prioritize community-based ownership models, and recognize housing as a public good.
The Sustainable Economies Law Center will present on the growing commodification of housing by for -profit entities and its significant impact on housing affordabil ity and community stability in Richmond and how for -profit corporations and investor(s) ownership has driven displacement and hindered resident-centered housing models.
DOCUMENTS ATTACHED:
Attachment 1 – Presentation to Ban Land Grabs in Richmond- Protect Housing, Communities, and the Future PowerPoint