SPECIAL-INTEREST BONANZA $2 MILLION DONATED TO BACK HOUSING BOND.

Byline: KERRY CAVANAUGH Staff Writer

Developers, banks, real-estate investors and insurance companies have contributed more than $2 million to bankroll a Nov. 7 ballot measure that would funnel $1 billion to affordable housing in Los Angeles.

More than 25 companies and individuals have donated $25,000 each to the Homes for L.A. Families campaign that backs Proposition H, according to the most recent disclosure statements through Sept. 30.

Since then, additional contributors to the campaign -- one of the richest in city history -- include former television mogul A. Jerrold Perenchio, who has donated $200,000, and Sylmar-based construction firm Tutor-Saliba, which has given $50,000.

The campaign also is still trying to raise an additional $1 million to buy more television advertisements to be broadcast in the remaining weeks before the Nov. 7 election.

If it reaches its goal, it would be the most expensive ballot-measure campaign in city history. And if the measure passes, development interests stand to gain hundreds of millions of dollars in government assistance to build low-income housing.

Many of the major contributors said Tuesday that they are donating because they want to see the city build more homes -- not because they want to benefit from the construction boom.

``This is something we're passionately invested in,'' said G. Allan Kingston, a co-chairman of the campaign and president of Century Housing, a nonprofit that lends money to affordable-housing projects.

``We know how complicated and difficult it is to find funding sources for nonprofit and for-profit developers who want to build affordable housing.''

Century Housing has committed nearly $200,000 in cash, staffing and advertising to the campaign. Century employees have chipped in $6,500.

The lender would not get any of the proposition's funds directly from the city, but would likely provide financing to projects that do receive bond money.

`Good investment'

Kingston said it hasn't been hard to persuade colleagues to contribute.

``This may sound corny, but people really care about the community they live in. The folks who are in the development business, they can't continue to build in an atmosphere where Los Angeles has the highest population of homeless, and their employees can't afford to buy a home.''

Proposition H opponent Walter Moore said the contributions show that developer and real-estate interests have a vested interest in the $1 billion housing bond.

``Do you think developers put up $2 million because they have a deep, golden-hearted concern for battered wives and homeless veterans? It's a good investment by them. You spend $2 million in advertising and you get $1 billion,'' Moore said.

Joined by taxpayer and homeowner groups, real-estate broker Moore said proposition opponents are not raising money to fight the measure.

If passed, the bond would cost homeowners about $15 per $100,000 in assessed value. That translates into nearly $100 for a median-price $600,000 home in the San Fernando Valley.

Supporters note that the bond would generate $100 million per year for 10 years and create housing for 10,000 families.

Much of the money would be offered as loans to developers who construct or rehabilitate rental housing for low- and very-low income families.

Some of the money would be dedicated to building permanent supportive housing for the homeless and mentally ill. And some would be offered to aid first-time homebuyers.

Local money

Proposition H needs 66 percent of the vote to pass.

Some developers said they are willing to write checks to support Proposition H because they've been frustrated with the bureaucratic way low-income housing is funded by the state and federal government.

Having a local pot of money would help because affordable housing will not get built without a subsidy, they said.

``If we don't begin providing affordable housing in a meaningful way, the people who work in this city will not be able to live in this city,'' said Kate Bartolo, senior vice president of The Kor Group, which has developed luxury condos and lofts and operates hotels.

Bond support

Her company probably wouldn't apply for any bond money, but the measure could help Kor Hotel workers who struggle to find reasonably-priced housing and often commute long distances to work.

Agoura Hills-based developer Amcal Enterprises, which specializes in building affordable housing, has contributed $25,000 in support of the measure.

The company has received $21 million from L.A.'s Affordable Housing Trust Fund to build more than 500 low-income rental units in Lincoln Heights, downtown Los Angeles and Van Nuys.

Meta Housing contributed $10,000 to the campaign, and has received $14 million from the city's trust fund for 187 low-income rentals in downtown Los Angeles.

And the Building Industry Association of Southern California and its Greater Los Angeles-Ventura County chapter have contributed $65,000 to the campaign.

L.A.-Ventura Chapter Chief Executive Officer Holly Schroeder said her members generally don't work on affordable projects, but they have begun to partner more often with nonprofits that specialize in financing and managing government-funded projects.

``This shows such a tremendous commitment to housing and dealing with the housing crisis; that's why we support the bond,'' Schroeder said.

kerry.cavanaugh(at)dailynews.com

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Contributors

$200,000 from A. Jerrold Perenchio, a major contributor to city issues and candidates who served as chairman and Chief Executive Officer of Spanish-language television network Univision until it was recently sold.

$65,000 from the Building Industry Association of Southern California and its Greater L.A.-Ventura County chapter.

$50,000 from Tutor-Saliba, which recently was awarded a $241.7 million contract for the LAX south-runway improvement project.

$25,000 from Amcal Enterprises, which has gotten $21 million from the city's Affordable Housing Trust Fund.

$10,000 from Meta Housing, which has received $14 million from the fund.

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