In a new, much narrower fiscal environment, state Assemblymember Holly Mitchell (D-Culver City) and the City Council are convening a roundtable discussion, Friday morning, Feb. 8, in Council Chambers, on the future of creating affordable housing.
Between 9 a.m. and 12 noon, leaders from the affordable housing development, lending, and academic communities will discuss topics ranging from creating permanent sources of funding to using local zoning to create affordable housing.
How the Old World Worked
With the City Council’s approval of the first three years of the Comprehensive Housing Strategy in 2008, Culver City was poised to create 54 affordable housing units by this year and 210 more affordable housing units by 2015.
Tilden Terrace construction commenced last year, with redevelopment an entire block with a place-making, mixed-use affordable housing development.
These residences represent the first affordable family housing units created in 10 years in Culver City.
All of these units were funded significantly by the Redevelopment Agency’s Low and Moderate Income Housing Fund. In 2011, efforts to construct new affordable housing units came to a halt. Nearly 20 percent of the 54 units and all other future affordable housing units may never be built.
It has been a year since the devastating loss of the Low and Moderate Income Housing Fund through the elimination of Redevelopment Agencies statewide.
Culver City lost $8 million annually, resulting in a significant blow to the creation of affordable housing.
Other California communities have felt similar impacts.
Ms. Mitchell will serve as one of the roundtable panelists while budgeting expert Kathe Head, a managing principal from Keyser Marston and Associates, will be the facilitator.
By Tuesday, participants should RSVP to Tevis Barnes at 310.253.5782 or tevis.barnes@culvercity.org
Ms. Wolfberg may be contacted at shelly.wolfberg@culvercity.org
