Los Angeles OKs $15 Million for Skid Row Housing Trust Buildings

Published on December 13, 2023

LOS ANGELES—The Los Angeles City Council Dec. 12 approved a $15 million request to cover costs for the continuing maintenance and repair of 22 dilapidated buildings in the Skid Row area under a receivership. About $14.5 million will cover repairs, debts owed to the receivership, and deficits due to low rent for more than 1,500 units and the buildings through the end of the fiscal year on June 30, according to city officials. An additional $500,000 will be used to retain consultants to develop a recapitalization strategy for the portfolio. Councilors voted 14–0 with Councilman Curren Price absent. This funding is the city’s third allocation to support the Skid Row Housing Trust. Earlier this year, the trust—a nonprofit organization that formerly managed 29 buildings— announced it was financially incapable of maintaining the properties....

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