GLORIA MOLINA ANNOUNCES $63 MILLION AFFORDABLE HOUSING TRUST FUND
FOR IMMEDIATE RELEASE
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GLORIA MOLINA ANNOUNCES $63 MILLION
AFFORDABLE HOUSING TRUST FUND
Molina Also Mandates Monthly Finance Reports by Sheriff's Department to
Help Maintain Balanced Budget Using Board 'Scrutiny and Accountability'
LOS ANGELES (June 24, 2013)-Los Angeles County Supervisor Gloria Molina announced
today the official creation of a $63 million affordable housing trust fund using
remaining dollars from now-defunct Community Redevelopment Agencies which previously
had been dedicated to creating low- and moderate-income housing. Molina's motion -
co-authored by Supervisor Mark Ridley-Thomas - is part of the county's $25 billion
Fiscal Year 2013-2014 budget, which was formally voted upon today.
"Our local economy is recovering but still has a long way to go, and hopefully this
$63 million affordable housing trust fund will quickly translate into more job
creation throughout Los Angeles County," Molina said. "When Los Angeles County
assumed oversight of redevelopment agencies after the state officially dissolved
them, I made assurances that dollars meant for housing creation would stay dedicated
toward that purpose. I'm pleased that, today, we've made good on that pledge."
Also as part of today's budget vote, Molina mandated monthly finance reports by the
Sheriff's Department in an effort to bring about more fiscal transparency. This
past fiscal year, Sheriff Lee Baca reported a $22 million shortfall by February -
and, to fix his deficit, used "overtime funding in patrol and county services"
dollars. The Board of Supervisors voted today to restore these funds to the
Sheriff's Department budget.
"I need scrutiny and accountability because I don't trust the Sheriff to stay within
budget," Molina said. "We all want him to carry out his very essential work but if
he has a budgetary shortfall, he should be upfront about it and not simply
overspend. Los Angeles County taxpayers need protections - and monthly finance
reports should provide us some safeguards."
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