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Staff Blog

Filtering by Tag: CVS

“Make it Personal” Series – CVS & the 99 Year Lease

Jeffrey Pu

As part of an ongoing series, we’re posting personal stories that from our supporters about why Prop. 13 reform matters to them. Our story today comes from Bobbie who talks about how the commercial loophole has devastated local schools in the East Bay.

“When I heard that CVS bought out our local Longs Drugstore in El Cerrito Plaza, I also learned that CVS structured the deal to take advantage of a 99 year lease from the family-owned Longs that would enable them to keep their property tax at 1976 levels. Between 2006-2012, our district schools had to cut PE, Art, Music, and advanced math programs, as well as increase class size for K-12. We had 34 kids in our girls' 4-6th grade classes, and sometimes over 42 kids in the middle school classes. This is directly attributable to not having enough money coming in from property taxes, and I think to myself, shame on CVS for squeezing out additional profit by taking it away from our kids. And shame on Longs for selling (out) this way.”

Bobbie – Kensington, CA

If you have your own personal story on why you believe Prop. 13 needs to be reformed, share it here!