LA Council Approves $360M for Affordable Housing

0:00It's April 18th. I'm Cory with the story, and this is California News Today, your AI-powered local news. A Los Angeles City Council Committee just greenlit $360 million from the measure ULA mansion tax to build or preserve over four thousand affordable housing units across 80 projects citywide. This voter-approved tax hits, real estate sales over $5.3 million, and aims to tackle the homelessness crisis head-on. The biggest slice goes to District 14, covering downtown and Northeast LA, with 1,700 units planned in 25 projects. There, they also set aside $14 million for an emergency income support program, handing out up to $19,000 to low income. Renter's facing tough spots, especially those with seniors or disabled folks at home. Councilwoman Isabel Gerardo, who chairs the committee, called it a key move from promise to real progress for Angelino's needing housing solutions.

1:00But critics, like the Howard Jarvis Taxpayers Association, say it goes too far and have gathered signatures for a statewide ballot push to scrap. Similar taxes. The tax has already pulled in $1 billion and starting, though some funds sit frozen amid lawsuits and delays. Officials are eyeing tweaks, like exempting new bills to keep development flowing, with big changes possibly hitting the November ballot. This recommendation heads to the full council next for a final vote, while low income renters can still apply for that aid by April 30 at the bosses. City site keeping the momentum rolling toward actual homes on the ground.