What is the fuss about ULA, the measure approved by Los Angeles City voters in 2022? The debate over its impact may be more hotly contested today than it was when it was on the ballot.
Measure ULA, dubbed “the mansion tax" by supporters, imposes a transfer tax on property sales above approximately $5 million. Funds go toward affordable housing production and homelessness prevention programs in the city. Supporters say it's boosting production of affordable housing and keeping tenants housed, reducing homelessness. Detractors say it has had minimal impact on affordable housing, and is chilling production of affordable and market-rate housing, and putting a drag on the economy.
A conversation about Measure ULA is a conversation about housing, about affordability, about homelessness prevention, about finance and taxation, about real estate market forces, and about the finer details of government regulation.
And that is what Mike Bonin discusses on this week's episode of "What's Next, Los Angeles?" with Joe Donlin of United House LA, a champion of ULA, and Mott Smith, co-author a study critiquing ULA. Listen on Apple Podcasts, Spotify, or Mike's website.
And don't miss this week's episode of LA Podcast, "May We Have Your Convention Please" where Mike, Alissa Walker, and David Levitus discuss ULA, along with the LA City council vote on the Convention Center overhaul, and much more. Listen on Apple Podcasts, via Spotify, or at Think Forward.
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