In the wake of a state audit revealing mismanagement of $24 billion spent on homelessness over five years, Santa Monica city officials have greenlit a contentious $123 million housing project. Each of the 122 apartments within this development costs over $1 million, raising eyebrows given the audit’s findings and the 40% increase in California’s homeless population during the same period. This decision came just days after the audit criticized the state for its lack of transparency and accountability in tracking the effectiveness of funds allocated to combat homelessness.

The project comprises various apartment sizes and includes retail spaces and parking, aligning with Santa Monica’s strategy to use city-owned land for affordable housing. Despite the significant financial outlay, local leaders like Mayor Phil Brock see it as a crucial step towards fulfilling housing mandates and supporting community growth. Yet, the hefty price tag per unit juxtaposed with the audit’s scathing review leaves public and fiscal watchdogs skeptical about the efficacy of such an expensive approach to solving homelessness. Why propose such a high cost project so much to solve a problem that in reality is still continuing to get worse?

As the project progresses, Santa Monica officials are challenged to demonstrate fiscal prudence and impactful outcomes, ensuring that the substantial investment benefits the very community it aims to serve and does not repeat the fiscal missteps highlighted by the recent state audit.