A Los Angeles-based health care nonprofit known for funding controversial ballot measures is waging an expensive battle with the real estate industry over rent control in California.
The AIDS Healthcare Foundation has poured more than $12 million into a November initiative it’s spearheading. The measure known as Proposition 10 would let cities and counties regulate rental fees in buildings that current state law shields from such control.
A $10 million contribution the foundation reported Wednesday made it the most expensive on the 2018 ballot so far. Opponents including rental companies and realtors have raised $22 million.
Supporters say the measure will protect low-income people from being priced out of their homes. Opponents argue it will decrease housing supply in a state facing a severe shortage.