LA County Board To Consider Rent Control Changes, Major Property Deal

The Los Angeles County Board of Supervisors will consider sweeping changes to rent control policies and a major downtown property acquisition at its Wednesday, November 6 meeting, potentially impacting thousands of residents across the County’s rental housing market.

Among the top items:

1. Rent Stabilization Ordinance Amendments: The Board will vote on amendments to the County’s Rent Stabilization Ordinance, capping annual rent increases at 3% for most rental units, effective January 1, 2025. Increases will be limited to 60% of the consumer price index, with small property landlords allowed an additional 1% (totaling 4%) and luxury unit landlords permitted an extra 2% (totaling 5%)
2. Gas Company Tower Acquisition: The Board will evaluate a $200 million acquisition package for the Gas Company Tower and additional properties in downtown Los Angeles, including 555 West 5th Street, 350 South Figueroa Street, and 333 South Flower Street, along with $5 million in closing costs.
3. Grants for Decarbonization and Behavioral Health: The Board will consider accepting a $328,720,000 grant from the California Energy Commission for building decarbonization programs through 2029, and $181,774,000 in funding for the Behavioral Health Continuum Infrastructure Program to enhance healthcare facilities.
4. Key Policy Initiatives: Significant policy items include recommendations to expedite youth transitions out of Los Padrinos Juvenile Hall, measures to prevent youth overdoses in the child welfare system, and consideration of a 20-year gas pipeline franchise for Southern California Gas Company in unincorporated areas.

The public can attend the meeting in person at the Kenneth Hahn Hall of Administration, 500 West Temple Street, Room 381B. Public comment begins at 9:00 a.m., with the regular meeting starting at 9:30 a.m. Remote participation is available by calling (877) 226-8163 with participant code 1336503. Spanish language access is provided at (877) 873-8017 with code 222222. Written comments can be submitted at publiccomment.bos.lacounty.gov.

The meeting will be televised Thursday, November 7, at 11:00 p.m. on KLCS, with recordings available later on the County’s website.