Los Angeles Taxpayers on Hook for $27M Homeless Housing Deal Under Federal InvestigationA twenty-seven-million-dollar property deal in Los Angeles, funded by homelessness funds, is under federal investigation. The city and state officials approved the purchase of a senior living facility, the Weingart Shelby, for twenty-seven million dollars from a seller who had bought it for eleven million dollars. The property is currently undergoing taxpayer-funded renovations for unhoused individuals. The deal, involving developer Steven Taylor, is part of an ongoing investigation into bank fraud. Taylor, who bought the property for eleven million dollars and sold it for twenty-seven million, has been charged with submitting fraudulent documents. The Weingart Center, a major homeless housing provider, is also under investigation, with its president and CEO, and chief of real estate development placed on leave.
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