ADOPTION OF A RESOLUTION AUTHORIZING THE APPLICATION FOR, AND RECEIPT OF, PROHOUSING INCENTIVE PROGRAM FUNDS FOR EQUITABLE BUILDING PERFORMANCE STANDARDS IMPLEMENTATION [N. MARICICH, F. CONTRERAS, C. SHEN, E. ROTMAN]
Resident impact 7/10
Using grant funding from the California Department of Housing and Community Development's Prohousing Incentive Program, this proposal would secure up to $750,000 to implement West Hollywood's Equitable Building Performance Standards. This initiative aims to enhance building efficiency and sustainability, potentially lowering utility costs and improving living conditions for residents.
Why it matters For West Hollywood residents, this grant could lead to more energy-efficient buildings, which may reduce utility bills over time. The implementation of these standards might also increase property values by making homes more attractive to environmentally conscious buyers. Renters could benefit from improved living conditions without immediate rent increases, as the funding covers implementation costs.
Fiscal impact Grant funding of $750,000
