Councilmember Nithya Raman (@cd4losangeles.bsky.social)

cd4losangeles on Instagram: "Voters passed Measure ULA in 2022 - creating a tax on all property sales above $5 million that would fund affordable housing constr…" Voters passed Measure ULA in 2022 - creating a tax on all property sales above $5 million that would fund affordable housing construction, rent relief, and eviction defense.My effort to reform ULA, which was discussed in Council yesterday, came from the desire to protect this essential resource for Los Angeles. ULA is facing real threats, including through proposed ballot measures sponsored by business groups and state legislative action, that would either significantly undercut revenues generated by the measure or eliminate the tax entirely.There is also research and data suggesting that the tax is creating unintended consequences for our city. When ULA was first proposed, research suggested that it would not have big impacts on apartment construction in LA. However, since going into effect, permits for multifamily and mixed-use housing production have seen big drops, even as other jurisdictions like San Diego have seen increases.At its simplest: we cannot address the housing crisis with a policy that worsens our housing shortage. If Measure ULA is going to remain a durable source of funding for affordable housing and homelessness prevention, we need housing projects that actually get built and house families. We must fix any unintended consequences of Measure ULA to remain in line with what voters expected and what this city needs.My motion has now been referred back to the Housing and Homelessness Committee, and I welcome the opportunity to engage in further discussion. Any changes in the Measure will have to be put before voters, and I hope that we will be able to send a robust proposal to the November ballot. https://www.instagram.com/reel/DUEGVY2AaHT/?utm_source=ig_web_copy_link