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City Council approves start of housing trust fund process, asks fast reports on linkage fee and other options
Summary
The Los Angeles City Council voted to move forward with creating a citywide housing trust fund and asked staff to report back quickly on potential revenue sources including a commercial linkage fee and transient occupancy tax; the measure passed after debate over timing and stakeholder involvement.
The Los Angeles City Council voted to begin establishing a citywide housing trust fund and directed city staff to report back on potential funding sources, including a commercial linkage fee and transient-occupancy-tax options.
Councilmember Nick Pacheco, chair of the Housing, Community and Redevelopment Committee, said the committee and motion authors are committed to creating a housing trust fund and that the initial reports are intended to start a longer process. “We are making a strong commitment,” Pacheco said during discussion of item 12.
The move follows a task force report that recommended funding options; Anita Zussman, vice president of legislative affairs at the Los Angeles Area Chamber of Commerce, told the council the business community needs…
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