It's time to get creative.
Combining unique, but successfully tested approaches, I propose a multi-part program geared toward keeping KC dollars, products, services & goodwill circulating within our own city as often and as long as possible:
- TEMPORARY Local Currency (Click HERE to see how it's working in Tenino, Washington)
- Encourage local (& diverse) ownership of real-estate
- Time-Banking (like my other proposal at THIS LINK)
(1) Localized currency is only as valuable as the number of individuals and businesses that accept it. The more widely accepted a currency is within KC's city’s limit, the more easily goods and services can be exchanged, while also allowing ppl more breathing room to pay "non-negotiable" expenses.
(2) We need policies that encourage local ownership of real-estate property. Presently, several locally-based mom-and-pop property owners are subsidizing housing for tenants due to various COVID-restrictions; while still paying for the property's upkeep (i.e. repairs & regular maintenance, mortgage, property insurance). These individuals now risk losing their investment to larger (often out-of-town) companies due to their own growing financial insecurity. At the same time, KC residents who may have entered the real estate market are now feeling discouraged from doing so. These residents spend money in KC and are more easily held accountable for their actions/inactions than out-of-town real estate owners. I propose creating policies that strongly promote ownership of properties by in-town buyers; and policies that require out-of-town property owners to spend a significant portion of the income they gain from us IN OUR CITY. And if the Tempoary Currency mentioned above could be accepted at local businesses, for local services (i.e. repairs/maintenance) and even local government expenses (i.e. taxes, tickets, etc) they MIGHT even prove an acceptable form of rent relief that helps both the tenant and property owner.
(3) Timbanks. See link above.