AIAU urges City Council to pass Ordinance to fund affordable housing

Your guide to L.A.’s ‘mansion tax’ proposal to build more housing, Ordinance ULA

Citizen action group AIAU is urging L.A.’s City Council to pass an Ordinance which would enact a new “mansion tax” for large residential developments that will use the cash to fund affordable housing. The proposed measure is part of the City’s multi-pronged housing strategy – which has the capacity to expand the city’s supply of housing while still providing a safe, secure, and affordable community that is beneficial to all residents.

“We are not against development of affordable housing, we just believe that we should be doing it with the revenue that is generated,” said AIAU’s Executive Director Michael Quilliam. “Rather than taking the property tax dollars to build a school, we think that it is time that we use the $35 billion in property tax dollars to fund housing as well. Right now the city of Los Angeles is providing more affordable housing than any other major metropolitan.”

Quilliam added, “In the past many L.A. homeowners have been unable to build a new home and have had to use the resources of the County and the City in order to do so. The City of L.A. has many plans to provide affordable housing, but this is a major step up from anything it has done before.”

The group is hoping to have the proposal in place by early June. If the City Council passes it, it will then have to be submitted to the voters, who will vote on the proposal in November.

“This is an important step forward in the City of Los Angeles’s housing strategy,” said Quilliam. “By enacting this measure, we hope to be able to continue to provide good-paying jobs to the residents of Los Angeles.”

The City of Los Angeles, which is facing a housing shortage, is already one of the most expensive cities to live in in the nation with a median yearly rental rate of a little over $3,000. Many of the residents of Los Angeles are fighting to keep a much more affordable

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