CA bill to let LA buy fire-destroyed lots for low-income housing

(The Center Square) – The California Senate passed a bill to allow Los Angeles County and other municipalities to use property taxes to fund “Resilient Rebuilding Authorities” that would have to use at least 40% of their funding for building low-income housing. Senate Bill 549 now has a hearing in the state Assembly scheduled for Wednesday.

As a funding mechanism, the bill would allow the RRA for the Los Angeles wildfires to “Issue, receive, and administer funds, including, but not limited to, tax-increment financing, federal loans and grants, state loans and grants, and philanthropic grants, to support recovery.”

RRA-LAW would then be able to use taxpayer funds to oversee most of the construction process, and would be granted the power to “Purchase lots at a fair price for land banking,” “purchase critical construction materials in bulk,” and “Support the reconstruction workforce by partnering with trades, facilitating training and workforce development, and creating temporary workforce housing.”…

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