The Real Deal Los Angeles

Homeless housing initiative garners $1M in donations

Developers such as Frank McCourt are among the biggest donors
January 23, 2017 09:30AM

Frank McCourt

A campaign to introduce a quarter-cent sales tax for L.A.’s homeless services has raised more than $1 million, much of it from real estate interests.

Two companies linked to former L.A. Dodgers owner and real estate developer Frank McCourt gave a combined $200,000, while El Segundo-based commercial real estate firm Continental Development gave $100,000, the Los Angeles Times reported.

If passed, the proposal, known as Measure H, would raise about $350 million annually for homelessness prevention and affordable housing. It would also provide services for housing created by Proposition HHH, a measure green-lighting $1.2 billion in bonds to pay for 10,000 units of housing for the homeless which passed last year.

Other real estate entities that made donations to the Measure H campaign include Walsh/Shea Corridor Constructors and Tutor Perini Corp., both of which gave $50,000, as well as Stelee Industries Inc., which gave $40,000. L.A. Supervisor Mark Ridley-Thomas and hedge fund manager Tom Meyer also kicked in funds supporting Measure H. [LAT]Cathaleen Chen