The Era of Red Tape is Over
For too long, the city of Los Angeles has faced zero consequences for not building enough homes and taking too long to do it. That’s about to change. I will introduce legislation that will force LA to build more, build faster - or lose federal funding. The era of red tape is over. This is how we’ll do it:
Eviction moratorium. ICE is attacking our neighbors and people are afraid to leave the house to go to work or school. I will fight for an immediate eviction moratorium until ICE leaves Los Angeles.
57,000 new homes a year + 90 day approval process — or federal funding gets turned off. Los Angeles is mandated by the state to build 57,000 units of housing each year, but the city is falling far behind. All federal funding will be tied to this annual goal being met of new homes coming onto the market, and a standard approval process timeline. Hit these goals — or the city loses federal funding.
Zero empty homes. If units are vacant for more than 6 months, large corporate owners will pay a federal vacancy fee equal to 1% of the property value per year. After 12 months the fee doubles. Rent. It. Out. Empty homes in a housing crisis are unacceptable.
Legalize tiny homes. We’ve seen this work around the world, and now’s the time to bring this to LA. Four walls, a roof, your own plot of land for an affordable price. Cities will receive federal funding based on permitted tiny homes that have come online.
Bond requirements for blocking housing. Anyone who appeals housing approvals must post a bond to do so. Delays have consequences.
Get credit for good credit. If you pay rent on time for five years, the federal government guarantees you a first mortgage.
Rent-capped federal lease insurance. The federal government insures long-term residential leases the way it insures bank deposits. This gives stability to landlords and provides rent caps to tenants.
Office vacancy takeover clock. Empty commercial buildings over three years trigger mandatory residential conversion or federal takeover.
Rent stabilization through favorable landlord refinancing. A landlord with a multiunit building can apply for a federal refinance at lower rates if they agree to cap rent increases to inflation for a minimum of 10 years and keep units actively rented at 95% occupancy rate.