The L.A. City Council approved a deal to help Chinatown apartment building tenants who have been fighting rent hikes since 2020.
Tenants at the Hillside Villa Apartments, a 124-unit building constructed in 1989, have been fighting rent hikes since 2020.The L.A. City Council is expected to vote Friday on an almost $15 million deal to help Chinatown apartment building tenants who have been fighting rent hikes since 2020.The Los Angeles City Council Friday approved a program to aid Chinatown apartment building tenants who have been fighting rent hikes since 2020.
Hernandez noted that Hillside Villa is far from an isolated incident, as many other covenants are set to expire in the coming years, posing a threat to the city's affordable housing stock. The councilwoman also introduced a motion aimed at providing emergency rental assistance program for tenants who accrued more than six months of rent debt, specifically as a result of housing covenants expiring.
Several tenants also opposed the deal for providing Thomas Botz, the managing member of 636 NHP, an extension on existing loans, totaling $5 million, at 0% and 1% interest. Hillside Villa Apartments was built using funds from the Community Redevelopment Agency of the City of Los Angeles, and the city, with a 30-year covenant restricting the units to affordable rents.
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