December 4, 2024 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Los Angeles Commits to Affordable Housing

The Board of Supervisors have approved a new fund,
set to total $100 million a year by 2020, to support affordable housing. This is in addition to the $100 million the county has already committed to fighting homelessness.

Supervisor Sheila Kuehl, who authored the motion and was joined by Supervisor Mark Ridley-Thomas, said she was trying to take a longer view.

“This money is not just about housing people who are already
homeless,” but about building housing so that most Angelenos can afford a place to live, Kuehl said.

Redevelopment agencies once supplied much of the funding for affordable housing, as they were required to set aside 20 percent of their revenues for that purpose. Their dissolution by the state in 2012 has helped contribute to a supply and demand mismatch.

A family living in the county needs to earn $71,000 per year to afford the average rent for an apartment, but the average renter household earns just over half that, or $39,000, according to Kuehl’s motion.

At least three-quarters of the new county fund will be designated for preserving, building or renovating housing for very low-income or homeless households. The balance is intended to provide rental assistance, rapid re-housing of the homeless, shared housing and move-in assistance programs.

A multi-disciplinary committee will be established and tasked with
returning to the board in about five months with a detailed plan for both funding and spending the dollars. The commitment totals $20 million in 2016-17 and scales up in $20 million increments to reach $100 million annually by 2020-21.

Supervisor Don Knabe raised concerns about setting the budget five years out before identifying the exact source of funds.

“Taking this number out of the sky bothers me,” Knabe said.

Instead, Knabe suggested setting aside up to 20 percent of the county’s excess fund balance each year, rather than setting an absolute dollar amount.  He estimated that his formula could actually provide more dollars for housing in the early years.

Pushing for the $100 million commitment, Ridley-Thomas called it an “audacious and inspirational” goal, telling Knabe it was time “to get moving and get moving now on building affordable housing…we are not running fast enough, keeping up with the crisis.”

Knabe said he absolutely supported affordable housing and wasn’t
advocating for “business as usual,” but that he wanted to ensure that any plan was sustainable.

The board ultimately agreed that the committee would consider Knabe’s formula as one potential way of funding the overall commitment and voted unanimously in favor of the commitment.

The Southern California Association of Non Profit Housing praised the move, calling it “a significant boost to solving the shortage of affordable homes to our most vulnerable, especially low-income families, seniors and veterans,” said Alan Greenlee, executive director of SCANPH.

The association pegged the shortage of affordable homes for those making $18,000 or less per year at more than half a million units.

– from CNS.

Related Posts

10 Reasons Why Players Prefer to Use Crypto When iGaming in California

September 1, 2024

September 1, 2024

As online gaming continues to evolve, players are increasingly turning to cryptocurrencies as their payment method of choice. In California,...

Is California Going to Legalize Gambling in 2024/2025?

June 5, 2024

June 5, 2024

The issue of gambling legalization in California has been a topic of debate for many years. As the largest state...

Los Angeles Experience Gifts for People Who Don’t Want More Clutter

May 15, 2024

May 15, 2024

Just like you, most gift recipients in Los Angeles don’t want more stuff. The Los Angeles experience gifts on this...

California: Pioneering the Future of Online and Digital Payments

January 11, 2024

January 11, 2024

In the fast-paced digital economy of the 21st century, California has emerged as a powerhouse in the realm of online...

A Guide to the Current Gambling Situation in Canada

January 1, 2024

January 1, 2024

For centuries, gambling has woven itself into the fabric of human culture; in recent years–marking an era where evolution pervades...

Smart Strategies to Save Money in Your Entertainment Budget

December 30, 2023

December 30, 2023

Many individuals and families in today’s fast-paced world share a common goal: finding ways to save money. The entertainment budget...

California’s top sports teams.

December 1, 2023

December 1, 2023

California is known worldwide for a multitude of exciting things. They’re known for their incredible beaches, glorious sunshine, and fabulous...

Your Lucky Numbers: Six Tips Towards Lottery Success

November 30, 2023

November 30, 2023

Have you ever wondered how people win money from the lottery? They may not always hit the jackpot, but they...

Five different ways to unwind.

October 1, 2023

October 1, 2023

Modern life is always busy and it can feel like your to-do list is never ending. When you’re not working,...

Over Half of Short-Term Rentals Advertised in LA Don’t Comply With City’s Home Sharing Ordinance

April 4, 2023

April 4, 2023

Better Neighbors LA report highlights the inadequacies of enforcement measures for short-term rentals in Los Angeles, calling for increased regulation...

Venice Beach Attempted Murder Suspect Arrested in West Virginia

December 22, 2022

December 22, 2022 1

Brandon Manyo Dixon arrest in West Virginia By Sam Catanzaro A man has been arrested for the attempted murder of...

The Current Gambling Situation in California

December 1, 2022

December 1, 2022

Here’s what to know about everything from online casinos to betting in the state. In the U.S., gambling is a...

Cancer Cartel Provides Financial Help To Cancer Patients

November 16, 2022

November 16, 2022 2

Cancer Cartel is helping cancer patients focus on their treatment, not the financial stress of living with a diagnosis. Learn...

100 Miles of Bus-Only Lanes Within Five Years on City Council Plans

October 17, 2022

October 17, 2022

L.A’s public transportation network is known for being slow due to traffic congestion. A new motion by L.A. City Council...