EDITORIAL LEAP OF FAITH.

OF all the initiatives on the Nov. 7 ballot, Measure H, the $1 billion city housing bond, was the toughest decision to make.

The Daily News editorial board struggled with two strongly held and, in this case, conflicting beliefs. The first is that Los Angeles city government lacks a coherent growth plan, and ought not be endorsing any further development until one is in place. The second is that L.A. will become an unlivable place of only the extremely wealthy and the extremely poor unless strong leadership takes bold action to help the squeezed middle class.

For us, the decision to support the measure was all about having faith. Specifically, faith that Mayor Antonio Villaraigosa and his managers -- in particular, Planning Director Gail Goldberg and new Community Redevelopment Agency CEO Cecilia Estolano -- can deliver their visions of an economically diverse city that's denser but cleaner, healthier and more livable.

These leaders have all promised to implement a sound plan for dealing with the city's growth, and we have confidence that, armed with the funds from Measure H, they'll do just that.

It's a big leap of faith, but it's one we have no choice but to take.

In a very real sense, Villaraigosa is the last, best hope for Los Angeles. The city is at a figurative crossroads. In one direction is a dystopian future of palaces in the hills and squalor on the valley floors. In the other is a diverse, economically balanced and healthy community of neighborhoods where parents can safely and affordably raise their children.

Measure H's proposed $1 billion bond would be paid for through an annual tax of $14 per $100,000 of assessed value of property. The average new homeowner in the Valley would pay about $75 a year -- a reasonable price, given that this bond is what, for some, could make L.A. an affordable place to live in at all.

The proceeds from the bond would be used in three main ways: A quarter of the money would build housing for the homeless, and another quarter would go to help middle-class families scrape up the down payment for a first home. One-third would go to building rental stock. The rest would go into whichever of these three pots needs it most. It's a worthy goal.

Nearly 90 percent of those who live in L.A. can't afford to buy a home, even if they make $100,000 a year. In certain parts of the San Fernando Valley, middle-class renters are being forced out to make room for condo conversions they can't afford.

Young families and professionals are being driven out of the city altogether. This only adds to traffic and congestion problems, as well as to time spent away from home for parents.

We understand that supporting Measure H is a gamble that the politicians will use the $1 billion in the quest to actually build a better Los Angeles. But the odds for success have never been better.

We're betting it all on Villaraigosa and his promises to lead the city into a bright future. We hope he's up to the task.

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