CRA Plan Would Provide $7.1 Million for Housing
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Mayor Tom Bradley on Monday urged the City Council to approve plans by the Community Redevelopment Agency to lend $7.1 million to seven agencies to develop affordable housing for low- to moderate-income residents.
The council is scheduled today to begin considering CRA plans to offer funds from the Bunker Hill Replacement Housing Trust Fund, which generates money from downtown development to build affordable housing citywide.
The seven nonprofit groups are seeking to build housing in El Sereno, Southwest and South-Central Los Angeles, Sun Valley and west of downtown, and will be receiving additional funding from tax credits and state, city and private sources to build the projects.
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