Launching a Housing Finance Agency to Fund Expanded Housing in Los Angeles

To help reduce homelessness and increase affordable housing, Los Angeles is working to establish a Housing Finance Agency to develop its own financial resources. To that end, FUSE executive fellow David Spirakis researched legal structures for the HFA, creating a business plan and organizational structure. He has also worked with the Mayor’s Office on a strategy for passing needed legislation and has coached various elected officials and other constituents on the advantages of having a local HFA to gain their support for the legislation.    David is continuing to assist with the passage of legislation and approvals needed to move ahead with the HFA. Once these are acquired, David will launch the agency, which includes hiring staff and producing financial products, helping expand the development of affordable housing projects in the city.