The Los Angeles Business Council's presence at the conference underscores the wide consensus and subsequent momentum that has been achieved toward the commitment to address the current housing shortage in Los Angeles. The City Council's subsequent unanimous approval of the Trust Fund proposal clears the way for city, business and non-profit leaders to implement a delivery plan of 3,000 to 4,000 targeted homes to be delivered to Los Angeles annually.
Every dollar spent of the investment will leverage $5 to $10 from other government and private sources. This leverage from state, federal and private funds could dramatically increase the inventory brought to the city in the next three years - a fact that should greatly boost new business development in the region.
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