Six years ago, the Chamber and the United Way released Home For Good, an action plan to end chronic and veteran homelessness in L.A. Since then, cooperation between the business community, philanthropic foundations, apartment owners, and local and federal officials has helped house 14,543 chronically homeless people and 16,939 homeless veterans. But, regrettably, the number of new homeless is growing faster than our solutions.
This year, we witnessed unprecedented collaboration between the City of L.A. and the County of L.A. in addressing this crisis head-on. Complimentary plans were released that included strategies to help individuals experiencing both short and long-term homelessness. The plans also includes creating more affordable housing through zoning and land use reforms.
The City of L.A. has stepped forward and placed Measure HHH, the Homelessness Reduction and Prevention, Housing and Facilities bond, on the November ballot to finance Permanent Supportive Housing (PSH). This $1.2 billion bond will stimulate the construction of 8,000-10,000 PSH units over the next decade. Additionally, proceeds from the bonds will construct:
- Affordable housing for very low-income Angelenos who are at risk of becoming homeless
- Temporary shelters, storage and shower facilities
- Associated infrastructure for construction facilities such as sidewalks and utilities
For every $1 of HHH investment, we'll be able to leverage $3 from private, state and federal sources. The proceeds from the bonds will be provided to local housing developers though a competitive process to construct and operate these PSH facilities. The bond proceeds will be overseen by a Citizen's Oversight Committee, an Administrative Oversight Committee, annual allocation plans and regular audits. The County is currently working on a plan to fund wrap-around services.
Housing the homeless is hard work, but it is one of the most important things we can do to improve the quality of life for all Angelenos. That's why HHH is supported by the Chamber, the United Way of Greater Los Angeles, the L.A. County Federation of Labor, and a long list of elected officials, homeless advocates and faith-based leaders. For more information, visit www.yesonhhh.com or contact Jessica Duboff, vice president of Public Policy, to find out how you can help. HHH - For Homes, Help and Hope.
And that's The Business Perspective.
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