The County Of Los Angeles has not used 2,500 rent vouchers. These vouchers are called “Section 8 vouchers” that basically pays a majority of a person’s rent. Many people who are homeless or are disabled, need rental help in order to get into housing. The federal government (through HUD) pays for these rental assistance vouchers.
And they are ongoing vouchers. So it is actually easier and cheaper for local counties and cities to get Section 8 vouchers in order to help people get off the streets and into existing apartments, than to pay for and build new affordable housing units.
For the County of Los Angeles to not give away these rent vouchers, is similar to keeping 2,500 families or individuals on the streets. On average, an affordable housing unit in Los Angeles (for 1-2 bedroom units) is about $300,000 per unit.
That means it would cost the county $750 million to build affordable housing units for 2,500 families or individuals who are homeless.It’s a big loss… It would be easier to pass out 2,500 rent vouchers (paid for by the federal government) than to pass Proposition H (the $1 billion dollar affordable housing bond).