Measure ULA Expected to Raise $1 Billion for Homeless Programs in Los Angeles
Measure ULA, approved by Los Angeles voters in 2022, is expected to raise $1 billion for housing and homelessness programs through a tax on high-value property sales. As of December 2023, it has generated nearly $992 million, with significant funds allocated for affordable housing and tenant support initiatives. Despite criticism regarding its impact on commercial development, the California Courts of Appeals upheld the measure, ensuring its continued implementation.
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Measure United to House LA (Measure ULA), approved by Los Angeles voters in 2022, aims to raise $1 billion for housing and homelessness prevention programs. Implemented in April 2023, it imposes a 4% tax on property sales over $5.3 million and 5.5% on sales exceeding $10 million.
As of December 17, 2023, it has generated $991,798,866 from 1,389 transactions. The funds are allocated to eight programs, including affordable housing construction, eviction defense, and tenant education.
The Housing Department announced a $387 million funding opportunity for affordable housing projects, with $316 million sourced from Measure ULA. Critics argue the tax has hindered commercial development and failed to meet revenue projections. On December 15, the California Courts of Appeals upheld Measure ULA against legal challenges, allowing the tax to remain in effect.
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