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Mayor Villaraigosa has launched Housing That Works, a five year plan that will spend $5 billion to double the amount of affordable housing units built in Los Angeles. This plan represents the first time that all housing and planning departments in the City came together to develop one strategy and coordinate their efforts.
This coordinated effort will bring a new level of transparency and stability to the City’s housing investment strategy, which will allow it to leverage $1 billion in public funds into a $5 billion investment in affordable housing throughout local neighborhoods.
As a testament to this new strategy, the City of Los Angeles received a $700 million investment from Enterprise Community Partners, a national nonprofit with 25 years of experience and the leading provider of capital and expertise for affordable housing and community development.
Housing That Works draws a blueprint for affordable housing close to job centers and along mass transit routes. It pledges to build houses in the right places, ensuring that we protect our neighborhoods and reinforce existing communities.
With a highly concentrated area of low density housing, public housing sites in Los Angeles possess extraordinary potential for public investment and revitalization.
Mayor Villaraigosa has worked to protect and preserve our homes and neighborhoods. He launched the Neighborhood Stabilization Program to address the foreclosure crisis, and expanded workforce housing, protecting affordability agreements that were set to expire.
Mayor Villaraigosa also established long-term covenants to preserve affordable housing units Downtown and educate Angelenos about their rights and responsibilities as landlords and tenants.
During the last four years, Mayor Villaraigosa has funded 1078 units of permanent supportive housing – creating more units to serve the homeless or those at risk of homelessness than in the previous twelve years combined.
The Mayor’s office is focused on moving people out of homelessness by: building permanent supportive housing where homeless men, women and families are connected to social services; expanding Section 8 vouchers for the chronically homeless; and developing plans to transform public housing sites into vibrant mixed-income communities.