On Nov. 7 Los Angeles residents will get to vote on a $1 billion affordable housing bond measure. If approved, the measure will provide $750 million in grants and loans for developers to cover the cost of building affordable rental units and $250 million in loans to first-time homeowners, according to the Los Angeles Times. It also would increase real estate taxes by about $14.66 for every $100,000 of the value of the home.
http://www.latimes.com/news/local/la-me-council27jul27,1,4849730.story?coll=la-headlines-california