Hundreds of Millions of $$$$ Being Given Away to Builders
Hundreds of Millions of $$$$ Being Given Away to Builders
$1.2 Billion and not a penny for any services that will help the homeless
$1.2 Billion and not a penny for any services that will help the homeless
The City is giving away some of the most valuable propriety that could be used to benefit all Venice Residents
The City is giving away some of the most valuable propriety that could be used to benefit all Venice Residents
What is Proposition HHH? It is a $1.2 billion bond measure that would house very few of our homeless but instead would enrich developers and our politicians immensely.
Homeless count Los Angeles: 26,000 Number of units proposed: 8,000 – 10,000Years before units built: 3-10 years
What will it pay for? 8,000 - 10,000 units of Permanent Supportive Housing (PSH) to house all of the City’s chronically homeless, yet there are 26,000 chronically homeless in the city of Los Angeles. Cost per unit: $500,000
What is the plan, to implement Prop HHH?YOUR 1.2 BILLION DOLLARS:
But that is not the full story. The City provides the proceeds of the bond to local housing developers to construct and operate these facilities. But the city provides city owned land (your taxpayer land) to the developer.
So not only are the developers receiving 1.2 billion dollars from a bond measure (your taxes), they are also building on city land worth hundreds of millions of dollars for free.
And once built, the developer and city are collecting market rate rents subsided by your tax dollars!!!
So for every unit built, the developer is given our taxpayer bond dollars, our taxpayer land for free and taxpayer subsidized rents.
Venice, California, United States