Critics argue that the exemption is simply too broad and will have included solely victims whose main residence was destroyed versus landlords or traders with portfolios of properties.
Councilmember Eunisses Hernandez, the one council member who voted in opposition to placing the measure on the poll, referred to as it a “loophole for the ultrawealthy” and stated any exemption ought to favor lower-income victims comparable to tenants who misplaced leases or laborers who misplaced work.
“When rich property homeowners want reduction, we’re keen to bend over backwards … to fulfill their wants and needs. However when working-class folks want protections, abruptly our arms are tied,” she stated at a gathering in July.
Others are hesitant to cease any funds from flowing into Measure ULA, which raises funding for housing initiatives within the midst of a housing disaster. The exemption might cut back ULA income by 6% per 12 months, or $32 million yearly, in keeping with the L.A. Housing Division.
