Agran Opposes Affordable Housing, Twice!
IRVINE – At the February 22, 2022 Irvine City Council meeting, Larry Agran was the sole "no" vote against two projects which will create over 1,000 units of permanent affordable housing in Irvine, give the City over a Billion dollars of assets, and create financial benefits for the creation of new affordable housing.
These two projects were a rare opportunity to take existing multi-family projects in the City and turn them into essential workforce housing. Mayor Farrah Khan, who was initially concerned about potential City liability, learned from Staff that the City is a beneficiary of the benefits, but has not corresponding liability.
Councilwoman Tammy Kim was a major proponent of the proposals and noted multiple times the historic nature of the vote in turning existing market rate housing into affordable housing while creating additional public benefits.
Councilman Anthony Kuo noted his love of the Royce project and excitement to take a less than 5-year old residential building and protect it in perpetuity.
Councilmember Larry Agran based his opposition on the fact that he didn't have enough information despite the fact that the Council has previously met twice in closed session on these proposals and the fact that the projects are under purchase and sale agreements with Sellers that had closing timelines attached.
Agran Opposes Affordable Housing, Twice!
IRVINE – At the February 22, 2022 Irvine City Council meeting, Larry Agran was the sole "no" vote against two projects which will create over 1,000 units of permanent affordable housing in Irvine, give the City over a Billion dollars of assets, and create financial benefits for the creation of new affordable housing.
These two projects were a rare opportunity to take existing multi-family projects in the City and turn them into essential workforce housing. Mayor Farrah Khan, who was initially concerned about potential City liability, learned from Staff that the City is a beneficiary of the benefits, but has not corresponding liability.
Councilwoman Tammy Kim was a major proponent of the proposals and noted multiple times the historic nature of the vote in turning existing market rate housing into affordable housing while creating additional public benefits.
Councilman Anthony Kuo noted his love of the Royce project and excitement to take a less than 5-year old residential building and protect it in perpetuity.
Councilmember Larry Agran based his opposition on the fact that he didn't have enough information despite the fact that the Council has previously met twice in closed session on these proposals and the fact that the projects are under purchase and sale agreements with Sellers that had closing timelines attached.
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