The Los Angeles City Council on Tuesday passed a spending plan supporters say will quickly move funds raised from the city's so-called mansion tax to programs designed to reduce the housing crisis in the city.
Around $55 million has already been raised by Measure ULA, which went into effect April 1.
The funding will be used "to stabilize tenants and keep them housed, to educate tenants about their rights, protect them from harassment, and to build as many more housing units as possible," said Ann Sewill, General Manager of the Los Angeles Housing Department. But generating billions for housing has been done before, with little effect on the local homelessness crisis. L.A. County's Measure H went into effect in 2017 and is expected to raise $3.5 billion over its 10-year life.
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