Editorial: Why I’m Voting No on Prop 5 and Supporting William Ktsanes for El Cerrito City Council

As a concerned citizen of El Cerrito, I am deeply worried about the City Council’s support for Proposition 5, which would lower the required voter approval threshold for bonds from 67% to just 55%. On the surface, it may seem like a small change, but in practice, it opens the door for risky, taxpayer-funded projects that leave us footing the bill without any real say in how the funds are managed.

Here’s the situation: El Cerrito City Council is counting on Prop 5 to pass so they can move forward with a $21 million bond for a large-scale apartment project. This development, planned for the Transit-Oriented Development (TOD) site on the corner of Liberty and Fairmont, would include 240 units and a new library space. But there’s a catch — repayment of this bond would come solely from a supplemental property tax assessment on El Cerrito property owners, not from any rental income generated by the complex. That’s right: not a single dollar from rents would go towards paying back the bond. By law, the only guarantee of repayment is our property taxes.

To put it bluntly, this setup means that taxpayers like you and I would essentially be giving the city a $21 million “grant” to become co-developers and co-owners of this complex. And while that might sound good to some, it’s a risky proposition for those of us who are being asked to fund it. Think about it: once the bond is repaid, the city starts collecting rent, but at what cost? If the goal is to replace the library, why not do so at its current location, without the added complexity and cost of a 240-unit apartment building?

Let’s face it, this isn’t just about building a library or affordable housing. This is about the city taking on a high-stakes role in a private-sector project, funded entirely by our tax dollars. And while the city and developers may see this as a way to boost “equity” and lower leverage, the real equity at stake here is ours — the taxpayers who will be burdened with an assessment that gives us no real ownership or control.

That’s why I’m supporting William Ktsanes for City Council. With his background in finance, William understands the complexities and long-term impacts of these types of projects. He knows that the city can accomplish its goals without placing such a heavy financial burden on property owners. He has the insight to seek fiscally responsible solutions that prioritize the needs of residents rather than risky financial undertakings that leave us vulnerable.

Prop 5 may make it easier for projects like these to get off the ground, but that doesn’t mean it’s right for our community. I’m voting No on Prop 5 and casting my vote for William Ktsanes because El Cerrito deserves a councilmember who will prioritize prudent financial management and put residents first.

Let’s keep our city accountable and protect our tax dollars from unnecessary risk.

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