$1 Billion Housing Bond Measure
Today, the City Council voted unanimously to have the City Attorney draft a $1 billion dollar housing bond measure for the November ballot. This bond measure is what our city needs to effectively deal with our housing crisis.
It has become almost impossible to purchase a home in Los Angeles. Only 38% of Los Angeles residents are homeowners and prices skyrocket so quickly that only 12% of that percentage could afford to purchase their homes at today's prices.
This is shameful.
Soaring housing prices continue to squeeze our middle class. Los Angeles has become the "tale of two cities" with only two real classes - those who can afford housing and those who cannot.
We have a long road ahead in dealing with our city's affordable housing crisis. But this bond is a great step in the right direction. Our current housing market has priced hard working families out of homeownership. In the 11th district, over 58% of our residents are renters and are continuously threatened by the overwhelming number of condo conversions on the Westside.
This bond measure may not be the answer to all of our housing needs or even the social and economic complexities behind the problem. But it certainly gives us hope. This bond could potentially create about 1,000 additional units of affordable housing each year, by funding the development of new affordable housing projects and rehabilitating and preserving existing affordable housing.
Specifically, the bond measure sets aside:
-25% of funding for the development of affordable rental housing for the homeless and low income families, ranging from no income to 30% of the median income
-25% of funding for the development of affordable rental housing for households at 60% or below the median income.
-10% of funding for mixed income developments providing rental housing opportunities for individuals earning between 60%-80% of the median income.
-20% of funding on first time homeownership assistance for households at or below 150% of the median income. The majority of this funding will be dedicated to households below 80% of the median income.
I applaud the leadership of my colleagues, Councilmembers Eric Garcetti, Wendy Greuel, Jan Perry, Ed Reyes, and Herb Wesson on this very important initiative. I challenge the business community to partner with the City of Los Angeles to help spread the word and garner support from voters. It is in the best interest of the City, most importantly the families within this city, for this bond measure to be approved by voters.
-Bill
It has become almost impossible to purchase a home in Los Angeles. Only 38% of Los Angeles residents are homeowners and prices skyrocket so quickly that only 12% of that percentage could afford to purchase their homes at today's prices.
This is shameful.
Soaring housing prices continue to squeeze our middle class. Los Angeles has become the "tale of two cities" with only two real classes - those who can afford housing and those who cannot.
We have a long road ahead in dealing with our city's affordable housing crisis. But this bond is a great step in the right direction. Our current housing market has priced hard working families out of homeownership. In the 11th district, over 58% of our residents are renters and are continuously threatened by the overwhelming number of condo conversions on the Westside.
This bond measure may not be the answer to all of our housing needs or even the social and economic complexities behind the problem. But it certainly gives us hope. This bond could potentially create about 1,000 additional units of affordable housing each year, by funding the development of new affordable housing projects and rehabilitating and preserving existing affordable housing.
Specifically, the bond measure sets aside:
-25% of funding for the development of affordable rental housing for the homeless and low income families, ranging from no income to 30% of the median income
-25% of funding for the development of affordable rental housing for households at 60% or below the median income.
-10% of funding for mixed income developments providing rental housing opportunities for individuals earning between 60%-80% of the median income.
-20% of funding on first time homeownership assistance for households at or below 150% of the median income. The majority of this funding will be dedicated to households below 80% of the median income.
I applaud the leadership of my colleagues, Councilmembers Eric Garcetti, Wendy Greuel, Jan Perry, Ed Reyes, and Herb Wesson on this very important initiative. I challenge the business community to partner with the City of Los Angeles to help spread the word and garner support from voters. It is in the best interest of the City, most importantly the families within this city, for this bond measure to be approved by voters.
-Bill
Tuesday, July 11, 2006
Playa Del Rey's Smart Cross Walk
Last week, Councilman Rosendahl joined representatives from Playa Vista and the Los Angeles Department of Transportation to highlight the new "smart crosswalk" that was recently installed on Culver Boulevard in Playa Del Rey.
The Councilman was happy to join these representatives in showcasing the cooperation between DOT and Playa Vista to address a problem of this previously dangerous intersection. In 2003, a pedestrian was killed near Culver and Pershing, where the new technology of the smart crosswalk is now being used. When pedestrians approach to use this new technology, the embedded light fixtures in the street flash on and off, alerting motorists to yield to those in the crosswalk.
After testing out the crosswalk several times, the Councilman thanked the participants for their leadership on this very important issue of public safety.
-Kathryn Frengs
Westchester/ Playa Del Rey Field Deputy
The Councilman was happy to join these representatives in showcasing the cooperation between DOT and Playa Vista to address a problem of this previously dangerous intersection. In 2003, a pedestrian was killed near Culver and Pershing, where the new technology of the smart crosswalk is now being used. When pedestrians approach to use this new technology, the embedded light fixtures in the street flash on and off, alerting motorists to yield to those in the crosswalk.
After testing out the crosswalk several times, the Councilman thanked the participants for their leadership on this very important issue of public safety.
-Kathryn Frengs
Westchester/ Playa Del Rey Field Deputy
Wednesday, July 05, 2006
The Best of Alternative LA
The L.A. Alternative, the "free weekly newspaper of people, arts and ideas" hit the streets today with its "Best of Alternative L.A Reader's Choice Awards."
According to the paper, thousands of readers voted, and we're proud to report that Bill was listed as one of the top five elected officials in the region. The award winners list included Mayor Villaraigosa, Council President Eric Garcetti, Assemblywoman Jackie Goldberg, and Councilmember Tom LaBonge. Coincidentally enough, they are all friends and allies of Bill's.
Congrats to Bill and to the others.
We're also particularly pleased to note that District 11's own Venice Beach made the cut in a couple of categories: "Best Beach" and "Best Bike Path." Local haunts Abbot's Habit and Abbot's Pizza also made the list for "Best Coffeehouse" and "Best Pizza," respectively.
-Mike Bonin, Chief of Staff
According to the paper, thousands of readers voted, and we're proud to report that Bill was listed as one of the top five elected officials in the region. The award winners list included Mayor Villaraigosa, Council President Eric Garcetti, Assemblywoman Jackie Goldberg, and Councilmember Tom LaBonge. Coincidentally enough, they are all friends and allies of Bill's.
Congrats to Bill and to the others.
We're also particularly pleased to note that District 11's own Venice Beach made the cut in a couple of categories: "Best Beach" and "Best Bike Path." Local haunts Abbot's Habit and Abbot's Pizza also made the list for "Best Coffeehouse" and "Best Pizza," respectively.
-Mike Bonin, Chief of Staff
