The Los Angeles Post
California & Local U.S. World Business Lifestyle
Today: December 23, 2024
Today: December 23, 2024

Council passes Measure ULA programs to increase renter protections

measure ulaSource: Getty
December 11, 2024
Zakir Jamal - LA Post

The Los Angeles City Council Monday approved final guidelines for the expansion Measure ULA programs in a 12-0 decision. 

Council members Traci Park and Monica Rodriguez were not present during the vote.

An amendment introduced by Councilman Bob Blumenfeld was also passed. The amendment requests a report on the ways in which the city might lighten the financial burden on nonprofits which build or acquire affordable housing for seniors.

Measure ULA was approved by voters in a ballot initiative April 2023. The bill places a so-called “mansion tax” on the sale of properties over $5 million.

Funds raised are meant to contribute to the expansion of affordable housing and the prevention of homelessness. Programs which can help prevent current renters from becoming unhoused, such as legal defense for those facing eviction, are covered by the measure.

However, due to legal challenges and a ballot measure intended to roll back ULA, only $150 million of the funds has been available so far.

The California Supreme Court this year ruled that the Taxpayer Protection and Government Accountability Act could not appear on the November ballot. The act would have called for a referendum on any local special tax increases passed in 2022 or later, and required a two-thirds majority for such taxes to pass. As such, it would have blocked the ULA from coming into effect.

With that out of the way, only a pending lawsuit remains in the way of the full deployment of ULA funds. The Housing Department has speculated that the legal challenge could be resolved by the end of the year.

The Housing Department estimates that it will be able to allocate $167.9 million to ULA programs this fiscal year, and $301.1 million in the next.


Some groups have criticized measure ULA on the grounds that it may harm the city’s luxury housing market. The Howard Jarvis Taxpayers Association and the Apartment Association of Greater L.A.backed the Taxpayer Protection and Government Accountability Act in an attempt to reverse the measure’s effects.

Related

Asia|Australia|Business|Economy|Finance|Stock Markets

US stocks end higher ahead of Fed, bitcoin surges

Megacap tech shares muscled the S&P 500 and the Nasdaq to higher closes on Monday as U.S.

US stocks end higher ahead of Fed, bitcoin surges
MidEast|Political|World

A diminished Hezbollah is made even weaker by the toppling of Assad in Syria

A severely hobbled Hezbollah was in no position to help defend former Syrian President Bashar Assad, a longtime ally, from the lightning-fast insurgency that toppled him

A diminished Hezbollah is made even weaker by the toppling of Assad in Syria
Asia|Business|Economy|Finance|Stock Markets

Japanese investors sold overseas equities for second straight month in November

Japanese investors sold overseas stocks for a second consecutive month in November as they sought to capitalize on robust gains in global equities, particularly as U.S. stocks reached

Japanese investors sold overseas equities for second straight month in November
Uncategorized

Access free fentanyl test strips at these 13 L.A. County locations

Los Angeles County libraries have expanded their fight against deadly drug overdoses, now offering free fentanyl test strips alongside their weekly naloxone clinics at 13 locations across the region. The test strips allow people to check their drugs for fentanyl. This powerful synthetic opioid can prove lethal even in tiny amounts when mixed into street drugs without users’ knowledge. The strips detect fentanyl in various forms, including pills, powder, and injectable drugs. Libraries are trusted spaces where people can access these resources. This expansion of harm reduction services aims to prevent overdoses and save lives. People can visit the participating

Access free fentanyl test strips at these 13 L.A. County locations
Share This

Popular

Asia|Business|Economy|Finance|Stock Markets|US

US stocks end sharply higher, dollar drops after inflation report

US stocks end sharply higher, dollar drops after inflation report
Business|Economy|Finance|US

US mortgage rates rise after three straight weekly declines

US mortgage rates rise after three straight weekly declines
Business|Economy|Finance|Political|US

Global central banks urge caution before Trump arrival

Global central banks urge caution before Trump arrival
Business|Economy|Finance|Stock Markets|US

US rate futures price in Fed on hold in January, less than two cuts in 2025

US rate futures price in Fed on hold in January, less than two cuts in 2025