LA Leaders Send $1.2 Bond to Combat Homelessness to November Ballot

The Los Angeles City Council voted Thursday to place a bond measure on the November ballot aimed at raising money to address the city's homelessness problem, and postponed consideration of a related parcel tax measure until Friday.

The council agreed to ask voters to authorize $1.2 billion in bonds to be issued over 10 years, but is also considering an alternative parcel tax measure that could raise $90 million per year until 2027 for homeless housing and services.

The council has yet to decide which revenue-raising strategy to advance and is being asked to place both the bond and tax measures on the ballot, at least for now. The council would have until Aug. 12 to withdraw one of the measures.

At least two City Council members -- Jose Huizar and Marqueece Harris- Dawson -- are pushing for the bond proposal, with both pointing to recent polling indicating the public would be more receptive to it over a parcel tax measure.

Harris Dawson, who chairs the Homelessness and Poverty Committee, said the goal is to help get 10,000 units built to house the homeless. The revenue from the bond measure would be used to spur such housing projects, with the

city acting as partner and the purchaser of the property where the housing is to be built.

"The council has decided to put before the voters an opportunity to make an investment in dealing with the homelessness crisis that we see in our city," Harris-Dawson said. "Every indication that we have is that people are

eager for a solution and are willing to pay for it."

Harris-Dawson said the hope was to have a regional funding approach, but the governor has "turned his back" on the county's proposal to tax high-income earners.

Huizar, who also sits on the homelessness committee, said in a statement that the vote to put the bond measure on the ballot was a "huge leap forward in addressing homelessness."

Mayor Eric Garcetti said he is leaning toward supporting the bond, rather than the parcel tax measure. He cited polling numbers and the amount of revenue that would be brought in to explain his preference.

Garcetti said he feels voters will have a self-interest in approving the measure this fall.

"I have seen seven polls in a row where people say homelessness is their number one concern, where people are going to say yes, I'd rather dig in my pockets and prevent it because it's going to save me more in the long run," Garcetti said.

The parcel tax would be calculated based on the square footage of improvements, while the bond measure would be paid back through taxes based on a property's assessed value.

City officials estimate that under a $1.2 billion bond measure, property owners would generally need to pay an additional $4.50 to $17.50 per year for every $100,000 of assessed value, with the payments lasting for as many as 28 years.

If approved, the proposed bond amount would be the largest voters have ever authorized the city to issue.