The Big Bond

Los Angeles is putting the largest municipal housing bond ever on its ballot this November. The $1 billion bond would pay for an estimated 20,000 affordable units and create a home loan program for workers priced out of the current market. Several city councilors pushed for the bond after inclusionary zoning legislation went nowhere, and the city’s housing trust fund ran low on money. Business, labor and the mayor support the bond, but it’s hard to say if voters will. (LA Times, 7/31)

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Alan Mallach, senior fellow at the Center for Community Progress and the National Housing Institute, is the author of many works on housing and planning, including Bringing Buildings Back, A Decent Home, and Inclusionary Housing in International Perspective. He served as director of housing and economic development for Trenton, New Jersey, from 1990 to 1999, and teaches in the City and Regional Planning program at Pratt Institute.


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