LOS ANGELES, Calif. — Doubling down on efforts to create affordable housing and prevent evictions, the Los Angeles City Council approved the spending and program guidelines under Measure ULA.
Voters approved the measure in 2023 and created a tax on selling property worth more than $5 million.
The tax revenue is funding 11 programs including, but not limited to, eviction defense, rental assistance, senior income support, and social housing.
This unprecedented social housing approach aims to ensure permanent affordable housing by keeping properties from being sold to for-profit groups or private citizens.
It also requires tenants to have a say in property management so they can eventually own their homes.
The state of California is also researching how a statewide social housing model would work, but for now, all eyes are on Los Angeles to see how his approach plays out in the market.