Preserving and Monitoring At-Risk Housing
The preservation of existing affordable housing is as critical as creating and incentivizing the production of new affordable housing. Developing preservation strategies are crucial to prevent a net loss of affordable housing, particularly given the city’s rapidly transforming neighborhoods. The PP&R unit addresses policy preservation issues through HCIDLA’s Affordable Housing and Preservation Program (AHPP).
Much of the restricted affordable housing in the City receives rental assistance contracts and/or financing from various federal, state and local programs. These programs provide rental assistance and/or special financing for developments that provide affordable housing units and subsidize rents for a mandated time period (affordability period). At the end of this affordability period, rental restrictions expire and property owners have the option to opt-out of the affordable housing programs after meeting certain requirements.
Through its Affordable Housing Preservation Program (AHPP), the HCIDLA creates and implements non-financial strategies to extend and preserve affordable housing at-risk of losing its affordability restrictions by:
- Managing the City’s affordable housing inventory ̶ Affordable Housing Database (AHD) ̶ to track the conversion of affordable housing to market rate housing due to expiration and termination of affordability restrictions.
- Assisting property owners, tenants and developers in identifying options and resources to preserve or extend existing affordable housing stock.
- Monitoring and enforcing the California State Notice of Intent requirement law that applies to housing with pending expiration/ termination of affordability restrictions.
- Supporting citywide and inter-agency efforts to share information, develop preservation action plans, policy development and preemptive efforts to protect the City’s affordable housing stock.
- Developing at-risk affordable housing data reports, geospatial analysis and providing research and information on at-risk housing and as well as possible preservation opportunities.
- Developing preservation strategies and monitoring preservation regulations and legislation.
- Leveraging resources to enhance program preservation program initiatives.
- "Preserving the City's Affordable Housing Stock" Presentation by PP&R to Los Angeles City Council Housing Committee, 8.27.14