Los Angeles County Establishes Affordable Housing Program

On October 27, 2015, the Los Angeles County Board of Supervisors adopted a motion to establish a comprehensive affordable housing plan funded at $100 million annually to build and rehab low and very low-income housing. The initial financial commitment is $20 million for fiscal year (FY) 2016-17, which will increase gradually to reach $100 million annually by FY 2020-21. At least 75% of the funds will be dedicated specifically to building new or preserving existing affordable housing. The goal of the program is to create and operate both short and long-term affordable housing for a variety . . .