On August 31st, Los Angeles Mayor Karen Bass announced that a state program awarded the city a $99 million grant for four new affordable housing projects. This monumental funding was made possible through the Strategic Growth Council, a government entity that collaborates with various public agencies to tackle economic, health, transportation, and other vital issues.
The grant is part of the Affordable Housing and Sustainable Communities Program, a flagship initiative that consistently provides funds to the Los Angeles Housing Department. This year the program is contributing a total of $157 million to the city of Los Angeles, with $99 million dedicated to creating 466 affordable units in Downtown L.A., Koreatown, Crenshaw, and Historic South Central.
The rest of the grant money will be used for essential city infrastructure and transportation improvements, including new bicycle infrastructure and the purchase of 31 electric buses.
With this latest grant, Los Angeles has received nearly $500 million from Affordable Housing and Sustainable Communities grants. This significant influx of funding follows the recent approval by the L.A. City Council of a $150 million spending plan for the proceeds generated by Measure ULA, a controversial real estate transfer tax. These funds are earmarked for short-term tenant assistance, legal aid, and non-construction programs.
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