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The city of Torrance has launched a new initiative to block the 122-room hotel from being converted into permanent homes for the homeless.
City leaders released their ratings on Thursday, determining the fair market value of the extended stay hotel at 3525 Torrance Blvd. IS is between $9.8 million and $10.2 million. It’s one page below the $30 million offer filed by a nonprofit that receives taxpayer dollars.
“The nearly $20 million inconsistency has prompted the city to seek greater scrutiny in implementing publicly funded housing programs such as Homekey+, particularly when taxpayer dollars are involved,” the city said in a news release.
In May, Torrance City Council voted unanimously against the project, citing the “serious implications” for public safety. Council members also argue that it is planned without proper public input and that the site is too close to existing homeless villages.
A few days after the vote, Los Angeles County Superintendent Janice Hahn issued a statement claiming that Janice Hahn, a district including Torrance, recognized the opposition but needed the project.
“We have to look at the facts. Without permanent housing, the shelters will be full, the streets will be crowded with tents and the crisis will continue to drag on,” Hearn said. “In permanent housing, people are stable, communities are healed and ultimately move forward.”
KTLA contacted Hahn’s office to respond to the assessment.
City leaders argue that they are not opposed to temporary, permanent housing solutions for the homeless – exactly this particular proposal.
“Our responsibility as a city is to listen to our residents and act to reflect the values of our community,” said Torrance Mayor George K. Chen. “The results of this independent assessment reinforce the concerns that many people in our city have already raised.”
The city said it plans to submit the assessment to the state’s Housing Development Office and the US Lawyer’s Office.
The expanded hotel was built in 1997 and was last renovated in 2012.
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