Days after LA Mayor Karen Bass asked the wealthy to help fund homeless housing during her State of the City address, billionaire Rick Caruso responded to the her latest plan. Alex Rozier reports for the NBC4 News on April 19, 2024.
Former mayoral candidate and Los Angeles business leader Rick Caruso slammed Mayor Karen Bass' most recent plan asking the wealthy to help fund homeless housing.
Caruso mentioned the billions of dollars the city and state already spent to address the homelessness crisis, yet problems remain. He added that the private sector is ready to step up but needs confidence that their money will bring results.
"I have no doubt the private sector is ready to step up, but that will not happen until there is confidence investments won't be tossed on the bonfire of wasted and ineffective spending that's characterized our city's homelessness strategy to date," wrote Caruso on an Instagram post.
A recent state audit showed California spent $24 billion to address homelessness over the past five years. Mayor Bass' first budget included an unprecedented $1.3 billion to conform the homeless crisis, too.
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Mayor Bass' latest plea does not mean more taxpayer dollars, instead her campaign "LA4LA" asks business leaders and philanthropic organizations to help buy buildings for the unhoused.
In an earlier interview with NBC4, the mayor assured that donor money would not come to the city.
"What we're asking for the money doesn't actually come to the city; the money goes to a foundation the California Community Foundation and will be used strictly to purchase master lease buildings," said Bass.
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The California Community Foundation is a nonprofit organization that collects donations as they attempt to solve pressing issues in LA County. But when it comes to the latest campaign, Bass' former mayoral opponent did not agree.
"When it comes to addressing the Los Angeles homelessness crisis, money is not the issue, leadership is," said Caruso. "There must be a new and practical gameplan with fresh approaches, strong leadership, and measurable results to inspire the confidence real investment demands."
