Mayor Karen Bass on Thursday announced a plan to allocate some $300 million in Measure ULA funding for affordable housing production, and another $14 million for emergency rental assistance.<\/p>\n
\u201cFor decades, Angelenos have been forced to bear the burden of rising rents and eviction notices because City Hall failed to deliver housing and support for tenants. We are changing that broken system,\u201d Bass said in a statement. \u201cThis historic investment will provide relief to renters impacted by last year\u2019s fires and will increase LA\u2019s affordable housing supply.\u201d<\/p>\n
\u201cI want every Angeleno to be able to afford to live in their neighborhood,\u201d Bass added.<\/p>\n
City Councilwoman Ysabel Jurado, chair of a recently formed ad hoc committee to reform Measure ULA, members of Centro de Ayuda and tenants joined Bass for the announcement Thursday morning.<\/p>\n
Bass and Jurado acknowledged the $300 million plan for affordable housing production still requires a vote from the ULA ad hoc committee and City Council before it can be enacted.<\/p>\n
The duo maintained the funding will boost housing production.<\/p>\n
Meanwhile, Bass emphasized the emergency rental assistance program is expected to open Friday. Applicants have until April 30 to file an application at cifd.forwardplatform.com.<\/p>\n
\u201cIn CD14, where nearly 70% of residents are renters, these historic investments will build, preserve and enhance more than 1,700 units of affordable housing, while also providing direct housing support,\u201d Jurado said in a statement.<\/p>\n
\u201cTogether, these efforts will help working families, seniors, and people with disabilities stay in their neighborhoods. This is Measure ULA in action. As chair of the Ad Hoc Committee, I am committed to moving this forward with urgency to get these dollars into our communities,\u201d Jurado added.<\/p>\n
The 2022 voter-approved measure placed a tax on real estate sales at and above $5.3 million. In January, the Los Angeles Housing Department reported the tax generated $1 billion in revenue for housing production and tenant protection programs.<\/p>\n
Critics of the measure say it has been an overreach, and has actually harmed the production of housing in the city. Not all the money has been allocated due to legal challenges.<\/p>\n
Earlier this year, the Howard Jarvis Taxpayers Association filed thousands of signatures for a ballot measure to overturn tax measures statewide such as those like ULA.<\/p>\n
The LA City Council formed an ad hoc committee in a bid to make changes to ULA. Any proposals to alter the measure are anticipated to be placed on the November ballot for voters to decide.<\/p>\n
Ad hoc committee members are expected to consider a report recently released by the housing department.<\/p>\n
Housing officials have recommended changes to ULA, which includes exempting new projects from paying the tax, and making sure other sources of funds are not impacted by the rules set forth by the measure, among other things.<\/p>\n","protected":false},"excerpt":{"rendered":"Mayor Karen Bass on Thursday announced a plan to allocate some $300 million in Measure ULA funding for…\n","protected":false},"author":2,"featured_media":261375,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[380,48,52,51,47,50,49,100,136],"class_list":{"0":"post-261374","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-los-angeles","8":"tag-affordable-housing","9":"tag-la","10":"tag-la-headlines","11":"tag-la-news","12":"tag-los-angeles","13":"tag-los-angeles-headlines","14":"tag-los-angeles-news","15":"tag-news","16":"tag-top-stories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/261374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=261374"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/261374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/261375"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=261374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=261374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=261374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}