LA City Council approved to set aside money raised by Measure ULA 'mansion tax' to fund protection for tenants who are behind on rent.
City Council Tuesday approved guidelines and an expenditure plan for money raised by the Measure ULA "mansion tax," with the plan aimed at funding tenant protections and increasing affordable housing.' proposed funding plan, which increases the amount earmarked for tenant protection measures. In a statement, Bass said the council approval comes at a "critical time" when tenants across the city are facing eviction.
"With over 44,000 Angelenos without a permanent home in the city of Los Angeles and with evictions surging, the need for these funds has never been more pronounced," Raman told her fellow council members. "I am pleased to see that the first $150 million from this significant new revenue stream is now on its way to doing the work the voters intended," Council President Paul Krekorian said in a statement. "Among other things, these funds will assist rent-burdened families and seniors, and expedite construction of affordable multifamily housing on city-owned land. This is exactly what was promised when Angelenos voted for Measure ULA, and now that promise is being fulfilled.
"Regardless of pending litigation, it's imperative to move forward with a mechanism to start spending the $150 million we committed during the budget process because lives are literally on the line," Blumenfield said. Blumenfield explained to his colleagues that the funds will be coming out of the city's general fund, however, the city will be reimbursed by money owed by the federal government.
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