[image via LA Times via LAHD]
We sat in Council Chambers yesterday from 10am to 4pm to get the 411 on tenant relocation and the moratorium on condo-conversions. In between contemplating poking our eyeballs out, we learned several things. Among them:
+ There are 800,000 multi-family rental units in the City of LA; 600,000 of those are under rent stabilization.
+ There are once again two mustachioed Councilmembers - Herb Wesson and Richard Alarcon (Dennis Zine had his removed awhile ago).
+ If given the opportunity to speak, Councilmembers will speak even when nothing more can be said.
+ No new rental units for the middle class are being created in the City of LA.
+ The Westside (Bill Rosendahl's District) is buckling under condo-conversion pressures and the poor and middle class are being forced out.
+ South LA (Bernard Park's District) would welcome condo-conversions that present new opportunities for home ownership.
Based on what we heard, there will be no moratorium on demolitions of rent stabilized apartment units. The Council is working on several schemes to replace those lost units, but nothing has been determined. And furthermore, after hours and hours of discussion, proposed amendments and testimony from City Staff, the Council decided to go with an Relocation Fee plan based on income and length of time a person has been at a residence. The plan calls for a relocation payment of $17,080 to qualified tenants and a $9,040 fee to all other tenants who have lived in their residences for five years or longer. Those who have lived in the residence for less than five years will receive less. The LA Times has a write-up explaining the whole messy procedure. The Council will vote next week on whether to adopt this proposal and send to the Mayor for his signature.
· L.A. plan could raise stakes for condo projects [LA Times]