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LA Mayor to Seek $1 Billion Housing Bond

Posted by: Chris Steins

29 October 2005 - 7:00am

Los Angeles' new mayor plans to propose an 'unprecedented investment in housing' for consideration by voters. The measure would likely give planners more more power to increase density in the city.

"Los Angeles Mayor Antonio Villaraigosa said Wednesday that he would work to put a $1-billion bond measure before voters to pay for more affordable housing. The measure, if it comes to fruition, has the potential to profoundly reshape housing policy in Los Angeles, where soaring prices have left more than 80% of families unable to buy a median-priced home.

...The housing bond idea has been gathering steam for a year — in part to counter another idea to increase the affordable housing stock. Known as "inclusionary zoning," it would force developers to commit to making a percentage of their projects affordable to low-wage earners."

Full Story: Mayor to Seek Housing Bond
Source: The Los Angeles Times, October 28, 2005
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