Support a Strong Linkage Fee in Los Angeles City
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We, Building an Affordable Koreatown (BAKT), recognize the urgency of an increasingly gentrified Koreatown amidst a larger growing housing crisis in Los Angeles. Los Angeles is the only major California city that does not have a permanent source of local funding for affordable housing, although LA is the most unaffordable US rental housing market. Climbing market rates and increasing homelessness and displacement rates remind us that we, as residents of Los Angeles, deserve the right to live in our communities and to preserve our cultures. Therefore, we are calling on our councilmembers to support the implementation of strong linkage fees. Linkage fees are fees that developers must pay for every square foot of property they build, both residential and commercial. This fee will go towards a permanent affordable housing trust fund that will be used to build more affordable housing units in Los Angeles (10,000 affordable housing units in the next 10 years). We are in support of the passage of the linkage fee proposal, because housing is a right, not a commodity.
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