Residents of a Chinatown apartment that has been designated as affordable housing for three decades would be spared from eviction and steep rent increases under a tentative agreement announced Wednesday between the city and landlord.
"As the council member of the First District, I have used all resources and authority at my disposal to protect tenants and their quality of life," City Councilman Gil Cedillo said in a statement. "... Los Angeles is seeing the worst housing crisis to date. This deal ensures that the most vulnerable residents in my district get to stay in their homes."
According to Cedillo's office, the city, through its former Community Redevelopment Agency, provided loans for development of the 124-unit Hillside Villa apartments in 1986, with the provision that it offer affordable housing to low-income residents for 30 years. The expiration of that provision opened the residents to possible eviction or rent hikes.
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Cedillo said the tentative agreement with the owner of the building at 636 N. Hill Place would ensure tenants are not displaced or evicted, while also protecting them from rent increases for a decade.
Cedillo introduced a motion Wednesday calling for restructuring of the debt on the property and ensuring the preservation of the complex.
The motion will be heard by the council's Housing Committee, and ultimately the full council.