The Skid Row Housing Trust, once the largest landlord in Los Angeles' Skid Row, collapsed due to low and inconsistent rental subsidies and other structural issues within the city's homeless housing system. A report by Claire Knowlton Consulting details the Trust's financial struggles, emphasizing that insufficient funding failed to cover the costs of managing the properties. The disparate subsidy rates led to significant operating deficits across all properties, contributing to the organization's downfall, which included assets catering to vulnerable populations battling mental illness and addiction.
The Skid Row Housing Trust ultimately collapsed due to insufficient rental subsidies and structural deficiencies in Los Angeles' homeless housing systems.
All of the trust's properties were running annual deficits, including the newer structures with studio and one-bedroom units.
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