Thread: L.A. moves to put $1 billion housing measure on ballot

Would just love to know how much of this will end up supporting illegals?


The Los Angeles City Council is poised to place a $1 billion affordable-housing bond measure on the November ballot, but officials indicated Wednesday that they may move more slowly on a $1.5 billion plan to repair the city's streets.

The council voted unan- imously to instruct the city attorney to prepare bond language that, if approved by voters, could help finance about 1,000 new units of affordable housing per year for the next decade.

The bond money would go to a range of projects aimed at homeless people, low- and middle-income renters, and first-time home buyers.

"Angelenos are feeling the impact of the soaring housing prices in Los Angeles," said Councilman Ed Reyes, adding that more than 85 percent of city residents cannot afford a house at the current median price of $570,000. "The housing bond addresses this crisis and provides the city's essential work force with the safe and affordable housing they need to live and work in their communities."

The bond measure drew support at Wednesday's council meeting from business groups and advocates for the poor and homeless.

"The bond is about the production of housing," said Holly Schroeder, executive officer of the Building Industry Association-Greater Los Angeles/Ventura Chapter. "We have an imbalance of supply and demand and this goes a long way to help that."

The bond measure would cost city property owners an average of $14.66 annually on each $100,000 of assessed property value for 20 years.

Councilman Bill Rosendahl said he strongly supports the bond measure, but warned that it will take a vigorous campaign to persuade two-thirds of the electorate to support it -- the minimum required for such a measure to pass.

Mercedes Marquez, general manager of the city Housing Department, noted that while 38 percent of Angelenos are homeowners, only 12 percent could afford to buy their house at its current value. Such figures should help convince property owners that the affordable housing crisis concerns everybody, she said.

"It is not just about helping, in an altruistic sense, people you don't know," she said. "It is about helping your own family members and keeping your children in the city of Los Angeles."

While the full council seemed enthusiastic about the housing bond measure despite the concerns about how it might fare at the ballot box, such worries seem likely to delay another proposed bond aimed at street maintenance.

Two council members from the San Fernando Valley have proposed a $1.5 billion bond measure for November that would fund the repair and maintenance of more than 4,000 miles of city streets.

It has been decades since the city made a significant infrastructure investment, and with current funding and staffing levels, officials say it will take 80 years to repair all of Los Angeles' roads.

Many council members voiced support for the goal of the street bond, but said it is not the right time to pursue it given that the November ballot may already be packed with the housing measure and several state infrastructure bonds. Voters recently rejected a statewide library bond measure as well as a new tax to fund preschool programs.

"I think we ought to be strategic about this and find the right time when voters will vote for this," said Councilwoman Janice Hahn, who asked for the bond to also include alley repairs. "November is already looking to be a crowded ballot."

The council voted to have the Bureau of Street Services craft a detailed plan for how the bond measure would work. The council has until Aug. 4 to approve the final language of both bonds measures to ensure they reach the November ballot.

http://www.dailybreeze.com/news/article ... page=1&c=y

I hear there is affordable housing in Mexico. Also, if you can't afford your second home in the US you should leave.

Dixie

They already tripled the trash collection fees!