The Los Angeles City Council unanimously voted to place several affordable housing projects in a managed pipeline that will ensure the delivery of approximately 215 affordable housing units in the 13th District, Councilmember Mitch O’Farrell announced today.
“I am committed to creating more housing opportunities for Angelenos to live near their work,” said O’Farrell. “This will decrease their commute time, increase their family time, and allow them to contribute to the local economy by reducing their rent burden in a way that will be a great benefit to our neighborhoods.”
On Tuesday, the City Council voted on the Nine Percent Low Income Housing Tax Credits (LIHTC) Management Pipeline. The process is being created to administer a regional allocation of State funding.
The pipeline allows an affordable housing development to receive a commitment from the City in the early development phase. This will provide a reduction in uncertainty and bolster the environment to create new affordable units.
Housing projects in their early phases of design and development will have to meet certain criteria in order to compete for the managed pipeline and State funding. Twice a year, the City will submit approximately six new affordable housing developments to the State for funding.
The item that was voted on also included approval of the following projects in the 13th District:
PATH Metro Villas, 335 N Westmoreland Ave., consisting of 72 units of permanent supportive housing for formerly homeless individuals.
Rampart Apartments, 252 S Rampart Blvd., consisting of 23 units of homeless senior housing.
Coronel Apartments, 1600-1608 N Serrano Ave. and 1601 Hobart Ave, consisting of 54 units of affordable family housing.
Selma Community Housing, 1603-1611 N Cherokee Ave., consisting of 66 units of affordable family housing.
“Hollywood Community Housing Corporation is very excited that the City is able to move these affordable housing developments ahead and are delighted with the strong role taken in the 13th district to actively take on the pressing housing issue,”
"Hollywood Community Housing Corporation is very excited that the City is able to move these affordable housing developments ahead," said Maura Maura McAniff Johnson, Housing Director with the Hollywood Community Housing Corporation. "We are delighted with the strong role taken in the 13th district to actively take on the pressing housing issue. We look forward to working with Councilmember O'Farrell and his dedicated staff on our Transit Oriented Development project, which will serve families earning between 30 and 60 percent of Area Median Income. HCHC will continue to work with the 13th District to produce quality affordable housing for years to come."
“The unanimous vote sends a clear message to Angelenos that your City Council hears your concerns about the steep cost of housing in the City,” said O’Farrell. “I will work with my colleagues to continue to pursue proactive solutions to creating and preserving affordable housing in the City and especially in the 13th District.”
The City of Los Angeles does not have enough affordable housing options to meet the current and future demands. According to the Federal government paying more than 30% of one’s income represents a cost burden leaving insufficient income for other basic needs. In 2011, 62% of renters in Los Angeles were considered rent burdened.
O'Farrell is committed to creating more opportunities for affordable housing in the City and recently introduced a motion that will start the process of establishing policy and guidelines for new development. [SOURCE]