Connect with us

Affordable Housing

How California’s New Rent Increase Cap Would Work

Published

on

Here’s how California’s new plan to cap rent increases would work

SACRAMENTO (Los Angeles Times) — California lawmakers are on the verge of approving one of the only state laws in the nation to limit rent increases after Gov. Gavin Newsom announced a deal with legislative leaders last week on a bill to cap annual rent hikes.

The measure, Assembly Bill 1482, would limit yearly rent increases statewide to 5% plus inflation for the next decade. Experts believe the measure would provide more stability for renters while also potentially leading to more regular rent hikes for tenants. Powerful interest groups have lined up against the measure, and its passage by the Legislature’s Sept. 13 deadline is far from assured. What would the bill do?

Supporters of the measure have pitched it as a way to […]

Continue reading at www.latimes.com

Continue Reading
Advertisement
Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Affordable Housing

Newsom Visits SoCal Homeless Shelters to Listen to Those in Crisis

Published

on

KOREATOWN (CBSLA) — Gov. Gavin Newsom toured Southern California homeless shelters Tuesday as he continues to fight to add $750 million to tackle the homelessness crisis.

The governor started his day in Riverside before visiting a board and care facility in Koreatown where he listened to the stories and concerns of residents living there.

Newsom said that homelessness has increased in California by 16.4% from this time last year, a jump of just over 151,000 people — 108,000 of whom are unsheltered. He said he and other state law makers have taken action to help across the state.

“In the next few weeks, this city and […]

Continue reading at losangeles.cbslocal.com

Continue Reading

Affordable Housing

A Map of All the HHH-Funded Housing Projects Slated for This Year

Published

on

Here’s a Map of All the HHH-Funded Housing Projects Slated to Open This Year

LOS ANGELES (LA Mag) — The $1.2 billion bond measure got off to a slow start, but 15 projects are set to be completed in 2020

Last week, city and county officials gathered to celebrate the grand opening of a new, 62-unit supportive housing project in South Los Angeles.

Located at the corner of 88th and Vermont in the Vermont Vista neighborhood, it was the first housing development to be build with funding from Proposition HHH, a $1.2 billion bond measure passed by Los Angeles voters more than three years ago.

The proposition, which originally promised to fund 10,000 units of supportive housing for the chronically homeless over ten years, has fallen far short of its original goals, as projects have been beset by bureaucratic delays and skyrocketing construction costs.

So far, only 118 housing projects […]

Continue reading at www.lamag.com

Continue Reading

Affordable Housing

Funding Approved for Affordable Rental Housing Projects

Published

on

LOS ANGELES — Over the past week, the Los Angeles County Board of Supervisors approved funding for 10 affordable multi-family rental housing developments (projects) selected through the No Place Like Home (NPLH) Program Notice of Funding Availability (NOFA) Round 2019-1.

The 10 projects will receive a total of $100,200,000 in NPLH funds. On April 30, 2019, the Los Angeles County Development Authority (LACDA), in partnership with the Los Angeles County Department of Mental Health (LACDMH), issued its first NPLH NOFA in the amount of $207 million.

While an initial amount of $207 million was made available, over $500 million in project funding was requested for 68 projects. After the completion of technical review, the LACDA recommended a total of 58 projects to receive funding to the LACDA’s Board of Commissioners, which will increase the County’s supply of affordable supportive housing by 3,600 units.

Continue Reading
Advertisement

This Just In…

Trending