The Los Angeles City Council authorized the transfer of $403,387 from the CD 14 Public Benefits Trust Fund - Affordable Housing Subaccount to New Economics for Women for the acquisition of four properties from the California Department of Transportation (Caltrans) for the Hogar Propio project. This project aims to develop affordable housing in Council District 14. The Los Angeles Housing Department (LAHD) is instructed to obligate the funds and facilitate necessary transfers, and the General Manager of the LAHD is authorized to draft, negotiate, and execute the loan documents related to the acquisition.
This funding supports the development of much-needed affordable housing in Council District 14 by acquiring properties from Caltrans, addressing housing insecurity and providing stability for the community.