Your guide to L.A.’s ‘mansion tax’ proposal to build more housing, Ordinance ULA1339, gets more detailed.
The Ordinance, also known as the Mansion Tax, includes a “prohibition on the use of federal and local resources” to assist with the development of “the private acquisition of properties by individuals or nonprofit organizations that offer low-cost housing…without the requirement that the income generated by the development be devoted to charitable and/or affordable purposes.” If it’s passed by the city council, it’s also projected to add another 10,000 residents to the city’s housing supply.
The measure was unanimously passed when it came to City Hall today.
Council President Herb Wesson said, “I am disappointed that our friends in Congress haven’t moved on this important issue and will continue working with them as they move forward with their efforts to strengthen our nation’s housing system.”
The legislation is expected to be referred to the City Planning Commission, which is expected to hold a public hearing to discuss the ordinance on August 22.
You may have also heard of the new “home-sharing” home model, which allows you to split a property into “shared-living” units, where residents have a variety of living arrangements, but still share the utility bills and common expenses.
The idea is to have a house that could function as a permanent home — with a yard and patio — where people could live permanently in it, while also having access to shared living space, similar to an apartment.
Housing activist Tim Redmond, who spoke out against the measure at today’s city council meeting, says, “I believe the city must not only act legislatively to protect residents, but also protect our local economy and environment by passing regulations that protect us all while ensuring that housing costs continue to decline. I am hopeful that this will put an end to any of the government-driven,’spiral of doom’ that