COVID Funds. Eminent Domain Better than Building Affordable Housing?

Where is this happening? Los Angeles

What is the proposal? A city council member is proposing utilizing COVI relief fund to acquire by eminent domain an apartment building for affordable housing

Is there a deadline for the city to spend the COVID funds? Yes, December 31st

Does the owner want to sell the apartment building? No

What policy argument supports this use of COVID funds? It is much more cost effective to acquire property for affordable housing than it is to build new affordable housing

Los Angeles Times Councilman wants L.A. to buy an apartment building using $46 million in COVID-19 aid