Dive Brief:
- The Los Angeles City Council last week signed off on more than $466 million for its latest affordable housing notice of funding availability, the most in the city’s history.
- The majority of the funding for the NOFA was generated by the city’s Measure ULA, a tax on sales of homes worth more than $5.4 million that went into effect in 2023.
- The city also established new account ability measures for its housing department, requiring quarterly reports on how much and where the funding is being used, and how well projects are progressing.
Dive Insight:
Los Angeles has continued to struggle with homelessness, seeing recent upticks after two years of declines.
The Los Angeles Homeless Services Authority, meanwhile, has been under scrutiny over its management of funds, with Los Angeles County pulling its support last year and the U.S. Department of Housing and Urban Development pausing federal funding while launching an investigation into the agency.
The latest affordable housing funding round approved by the City Council is a 20% increase compared with the prior round, according to United to House LA, a coalition of nonprofits, unions and homeless service providers and renters rights groups that helped advance Measure ULA.
“This historic investment will help us build new affordable housing, preserve the affordable housing we already have and provide operating assistance to stabilize existing developments,” Councilmember Imelda Padilla, chair of the Los Angeles City Council Housing Committee, said in a statement. “As we move forward, I want to ensure this investment is matched by accurate tracking, transparent reporting and real accountability for how these funds are spent and how each program is progressing. We must follow these dollars and ensure they are producing the affordable housing Angelenos deserve.”
The funding was approved unanimously by the Council and awaits mayoral signoff.
