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LAHD briefed committee on Measure ULA revenue, spending and 'Super NOFA' plan; homelessness prevention pilots under way
Summary
LA Housing Department reported that Measure ULA has generated about $632 million to date, described how $55.6 million was allocated to multifamily gap financing, outlined a planned 'Super NOFA' for multiple ULA program categories, and gave status updates on homelessness prevention programs including an income support pilot.
The Los Angeles Housing Department told a City Council committee on April 2 that Measure ULA revenue is trending upward and that the department plans to issue a consolidated "Super NOFA" this spring to allocate funds across several program categories.
Greg Goode, LAHD's director of strategic engagement and policy, reported the department received just short of $33,000,000 in ULA revenue in March and said total revenue for the fiscal period tracked in the presentation was over $320,000,000 for the current fiscal year and more than $632,000,000 overall since collections began. He noted the total is below the ballot measure's highest initial expectations but represents a significant new local funding stream for affordable housing and homelessness prevention.
Goode explained Measure ULA's spending structure: after an 8% administrative set-aside, 70% of revenue is mandated for affordable housing production and 30% for homelessness prevention. LAHD said the only ULA production program that had been authorized and spent funds in the earliest phase was the multifamily affordable housing program, where $55,600,000 in allocations were…
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