8legs: L.a. county affordable housing solutions agency

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Hundreds of affordable housing units funded by new L.A. County agency

LACAHSA approved just over $100 million for 10 projects to fund 554 affordable housing units.
The funding aims to simplify the process by consolidating financing through a single agency.
May will see another funding round as the agency expands its furnishings and approvals.
Studies suggest consolidating funding can reduce costs, though benefits vary by project.
LACAHSA was created through state legislation in 2022 and is funded by Measure A.
Most funds will support brand-new units, with some conversions and deed restrictions.
Project savings rose when funding relied primarily on LACAHSA.
Long Beach Mayor Rex Richardson chairs the LACAHSA board and emphasizes financing support.
The agency will require developers to break ground within 12 months for new funding rounds.
Overall, the initiative demonstrates county efforts to address homelessness and housing costs.

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