-

Statement from Los Angeles Business Council on Motion to Codify Emergency Measure to Expedite Affordable Housing

LOS ANGELES--(BUSINESS WIRE)--The Los Angeles Business Council applauds the Los Angeles City Council for considering a motion to permanently codify Mayor Bass’ Executive Directive No. 1, which was issued as a temporary emergency order to cut red tape and reduce approval time for 100% affordable housing projects. As the motion, introduced today by Councilmembers Katy Yaroslavsky and Nithya Raman and Council President Paul Krekorian, states, “the results of ED 1, even in six months, have been nothing short of dramatic.”

An independent study released last month by the LABC Institute recommended making Executive Directive No. 1 permanent and expanding its scope to mixed-income housing after demonstrating it could dramatically boost housing production. The study found Los Angeles would have added 36.3% more affordable units and 31.9% more market-rate units than were actually completed had the directive applied to all housing projects from 2010 to 2022, the period under review.

LABC has long advocated treating the housing crisis with the same urgency and dedication of resources that we’ve harnessed to address other regional crises. Six in 10 renter households in L.A. are cost-burdened and the homeless population has surged. L.A. must produce more than five times the number of housing units between 2021 and 2029 than were built between 2010 and 2019 to meet goals set by the state and augmented by the city.

We look forward to working with the City Council to implement ED 1 along with other policy changes that can further enhance the City’s ability to expedite new housing production, which our region desperately needs.

Contacts

Alec Vida
(310) 974-6688

Industry:

Los Angeles Business Council

Release Versions
English

Contacts

Alec Vida
(310) 974-6688

More News From Los Angeles Business Council

LABC Sustainability Summit Marks 20th Anniversary of Historic Climate Legislation and New Framework to Develop Clean Digital Economy

LOS ANGELES--(BUSINESS WIRE)--Twenty years after enacting landmark climate legislation, California has built one of the world’s largest clean-energy markets, strengthened resilience by anchoring a regional electricity grid and unveiled a roadmap to power the digital economy while achieving ambitious climate goals, according to business, government and environmental leaders at the Los Angeles Business Council’s 2026 Sustainability Summit. In its 20th year, the prestigious Summit shares the miles...

LA28 Sponsors Join LABC Institute to Launch Campaign to Help Local Small Businesses Win Contracts for 2028 Olympics and Super Bowl LXI

LOS ANGELES--(BUSINESS WIRE)--The Los Angeles Business Council Institute (LABCi), joined by LA28 Olympic and Paralympic Games sponsors JPMorgan Chase, AECOM, Cisco, and CDW, announced the expansion of the Compete4LA platform to help local small businesses win contracts for the 2028 Summer Olympics and other major events and projects, including Super Bowl LXI and the Los Angeles Convention Center expansion. LABCi is expanding Compete4LA’s capabilities through networking events and targeted progr...

In New Poll, L.A. City Voters Send Clear Message to State and Local Officials and Candidates: Build More Housing Now!

LOS ANGELES--(BUSINESS WIRE)--Deeply concerned about housing affordability and homelessness, Los Angeles voters strongly support policies to accelerate construction of all types of rental housing and favor by a two-to-one margin a bigger state government role in local housing decisions, according to a new survey commissioned by the Los Angeles Business Council Institute. The poll revealed the widespread strain of housing costs for residents. Seven in 10 Angelenos – including more than half of a...
Back to Newsroom