LA loads up $467M tranche of affordable housing funds, readies watch on spending

The City of Los Angeles has a massive pile of cash for affordable housing and new requirements to track how that money is being spent.  The Los Angeles City Council approved a record $466.6 million funding pool for developers, nonprofits, land trusts and other groups to build and preserve affordable housing across the city, the Los Angeles Times reported.  The allocation is the largest in the city housing department’s history, surpassing last year’s $387 million round. Roughly 70 percent will come from Measure ULA, the transfer tax on property sales above $5.4 million that has generated more than $1.3 billion […]

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