Q&A
Development of the true cost of living metric
1:07:58
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130 sec
Council Member Williams asks about MOERJ's work on developing, implementing, and reporting on the true cost of living metric required by the 2022 charter amendments. Commissioner Sherman outlines the office's progress and plans for this initiative.
- MOERJ has conducted initial research on various tools and measures across the country
- The office has met with other researchers and assessed internal city resources, such as the poverty report
- MOERJ is working on developing an initial methodology and plans to bring in third-party support
- The true cost of living measure aims to go beyond basic needs, including factors for withstanding emergencies and planning for the future
- The office acknowledges this is uncharted territory and is taking a thoughtful approach to developing the metric
Sideya Sherman
1:07:58
few more questions measuring the true cost of living.
1:08:01
Could you describe MOERJ's work today to develop, implement, and report on the true cost of living metric that the 2022 charter amendments require.
1:08:09
Sure.
1:08:10
So we as I've mentioned in my testimony, we've certainly started some initial research in the estimate of various tools and measures across the country as well as meeting with other folks who've done this research.
1:08:22
We've also done some internal assess and obviously the city produces a poverty report, which is different than what this is.
1:08:28
Right?
1:08:28
But also offers us some ideas on how we develop methodology, potential data sources, and how create something that's sustainable over time.
1:08:36
Our work right now after we've done some of that initial research is moving forward with an initial methodology from the we're also working on to bring on some 3rd party support to increase our capacity as we go through that planning process.
Nantasha M. Williams
1:08:51
Thank you.
1:08:52
You.
1:08:58
There are other questions, but I think you're still formulating but, you know, just, I guess, understanding, like, what the methodology will be, how do you plan to evaluate or determine the measure, the true measure, to measure the true cost of living.
1:09:13
You have that information now where you're working to get to that place.
Sideya Sherman
1:09:16
We're working to get to that place.
1:09:18
I can just share, you know, this is a great importance to us into our city, you know, a true cost living measure as I shared in my testimony really of of an opportunity for us to understand the magnitude of people across our city who are certainly working to to to get by and, you know, can certainly be a way in which we advocate for for what we need as a city on behalf of work people.
1:09:42
And so we're looking to, you know, certainly measure basic needs, also make sure that we're measuring ways in which people can withstand emergencies, but also making sure that people that we're creating a measure that accounts for the economic stability that people need to really plan for their future.
1:09:56
And so this is uncharted terrorist story for sure.
1:10:00
And so we want to make sure we do this in a way that's really thoughtful.
1:10:04
And so, again, we look forward to sharing that methodology and and brief in the council.