AGREEMENT FOR SERVICES WITH HR&A ADVISORS, INC. FOR HOUSING ELEMENT IMPLEMENTATION PROJECT (COMMUNITY LAND TRUST FEASIBILITY STUDY) [J. ALKIRE, F. CONTRERAS, T. FARRIS, E. ROTMAN]
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AI Summary
Using city funds, this agreement with HR&A Advisors, Inc. will explore the feasibility of establishing a Community Land Trust in West Hollywood. This initiative aims to address housing affordability by potentially creating a mechanism to maintain long-term affordable housing options. Residents should be aware that this study could lead to new housing policies or programs that might affect housing availability and affordability in the future.
How does this affect you?
This project could impact residents by potentially increasing the availability of affordable housing options in West Hollywood. If the study finds a Community Land Trust feasible, it may lead to new housing developments or policies that prioritize long-term affordability, benefiting renters and those seeking affordable housing. Homeowners might see changes in property values depending on the implementation of new housing policies.
Fiscal impact
Fiscal impact was not specified in the published agenda analysis.
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