Mayor Bass Takes Action to Provide New Relief to Palisades Fire Survivors, Accelerate Community Recovery

Mayor Karen Bass announced a proposal to create a one-time exemption from Measure ULA for homeowners affected by the Palisades Fire, facilitating their recovery. The exemption will help homeowners sell their properties without the financial burden of the property transfer tax, which has made potential buyers cautious. Since the fire, over 850 rebuilding plans have received approval, with construction progressing at a rapid pace compared to pre-fire standards. The Mayor emphasized that many affected homeowners are long-time residents on fixed incomes, seeking to rebuild their lives elsewhere. Discussions with local stakeholders, including Rick Caruso, led to this initiative aimed at revitalizing the community.

The exemption will allow for timely sales and new developments, addressing the issue of vacant residential lots. This move underscores the city's commitment to supporting recovery efforts while balancing the need for affordable housing funding. The swift action reflects an urgent response to the challenges faced by fire survivors in Los Angeles.