LA deploys $361M in Measure ULA funding for affordable housing projects

Los Angeles is putting its first major tranche of Measure ULA dollars to work, steering more than $360 million into affordable housing production, preservation and operations. On May 1, Mayor Karen Bass signed off on the inaugural Homes for L.A. Notice of Funding Availability, days after City Council approval, marking the first large-scale deployment of funds generated by the voter-backed transfer tax, the city announced in a press release shared with The Real Deal.  ULA adds a 4 percent property transfer tax on all real estate that sells for more than $5.3 million and a 5.5 percent tax on sales […]This article originally appeared on The Real Deal. Click here to read the full story.