For nearly twenty years, the City of Industry redevelopment funds have been an engine of affordable housing growth in the County of Los Angeles. Since the program began, over $193 million in Industry Funds have leveraged over $1.6 billion from other funding sources to help create over 6,500 units of affordable housing throughout Los Angeles County. Now, that record of success is threatened. So far, 16 housing developers have signed the letter drafted by A Community of Friends, upholding the validity of the city’s contract with the Housing Authority of the County of Los Angeles as an enforceable obligation in the post-redevelopment world.
Last month, the Oversight Board for the former redevelopment agency effectively denied approximately $18 million in desperately needed funds for affordable housing. On behalf of the SCANPH and a number of developers who rely on these funds, Public Counsel Law Center and the Public Interest Law Project have been working to require compliance with the contract and state law in order to preserve this important source of funding.
For more information, please contact Annie Lainer Marquit at email@example.com