Overview
The Law specifically mandates that redevelopment agencies act to retain and expand the affordable housing stock. The Law requires that a minimum of 20% of the revenues accruing to a redevelopment agency be set aside for the purpose of maintaining and expanding the supply of housing for low- and moderate-income households. In addition, there are specific requirements for replacing, on at least a one-for-one basis, any residential units which are housing low- or moderate-income households when those units are removed to foster other redevelopment goals and objectives.
Homeownership Programs
CRA/LA assisted homeownership programs are established on a project area by project area basis depending upon available funding and specific needs within each respective community.
Grants & Loans
CRA/LA grants and Loans are established by Income levels of households to which some federal and state programs, particularly housing are directed. Very low income units are reserved for households with incomes of on more than 50 percent of the Los Angeles are median income; and for low income units, the ceiling is 80 percent of that median; and for moderate income units the ceiling is 120 percent of the median.
Condo Conversion Information
Condo Conversion Committee Hearing Document
PLUM and HCED PowerPoint Presentation
