Market Overview

AHF Contributes $10M to 'Yes on 10' Campaign

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November statewide California ballot measure would allow for
expansion of rent control through repeal of the Costa-Hawkins Rental
Housing Act, restoring decision-making on rent control to the local
level.

AHF, one of the three proponents of Proposition 10, says its campaign
contribution is in keeping with its strategy to ‘Prevent, Preserve &
Produce'
in addressing the affordable and homeless housing
crises roiling California and the nation. When passed by voters,
Proposition 10 will allow communities the opportunity to preserve
affordable housing stock by implementing rent control measures locally.

AIDS Healthcare Foundation (AHF),
the largest global AIDS organization that currently cares for nearly
one-million patients in 41 countries worldwide, has made a campaign
contribution of $10 million to California's Yes
on 10
ballot measure campaign, a November 2018 ballot measure also
known as Proposition 10 or the Affordable Housing Act. The ballot
measure would allow for the expansion of rent control through the repeal
of the Costa-Hawkins Rental Housing Act of 1995, which will restore
decision-making on rent control to the local level.

"AHF is proud to announce this campaign contribution to the Yes on 10
campaign, a move in keeping with our overall philosophy to ‘Prevent,
Preserve and Produce' when it comes to addressing the affordable and
homeless housing crises roiling California and the nation," said Michael
Weinstein
, President of AHF, one of the three proponents of
Proposition 10. "We know we will be significantly outspent by the
opposition, backed by deep-pocketed developers and investors who
continue to wreak havoc in the housing markets. The greed of these
billionaire corporate landlords is causing widescale misery for millions
of Californians, and the scourge of homelessness will get much worse
because the rent is too damn high. The California dream is dying, and
only the voters can save it in November."

"The Board of Directors of AIDS Healthcare Foundation is fully behind
AHF's $10 million contribution to the Yes on 10 campaign, the ballot
initiative which, when passed by voters in November, will allow for the
expansion of rent control throughout California by returning
decision-making to the local level—removing the near blanket prohibition
on rent control from the ‘one-size fits all' auspices of state control,"
said Cynthia Davis, Chair of AHF's Board of Directors. "We see
firsthand the role that stable, affordable housing plays in the health
and well-being of our patients. We also see the negative effect that out
of control rents are having on our staff, who increasingly have to
commute longer distances to work in our clinics and testing facilities.
Clearly, the rent is too high, and it affects the well-being of
thousands of Californians. We believe Proposition 10 is one way to
provide relief and AHF is proud to support it."

Over the past nine months, AHF has stepped up to address the growing
affordable and homeless housing crises with the purchase and repurposing
for homeless housing of three L.A. area hotels or motels. Since October
2017, AHF purchased the Madison and King Edward Hotels, both single room
occupancy (SRO) hotels on L.A.'s Skid Row, as well as the 27-unit Sunset
8 Motel in Hollywood—now rebranded as Sunrise on Sunset and housing
formerly homeless families. By the end of August, AHF will have created
or repurposed nearly 600 housing units in Greater Los Angeles and
believes there are as many as 5,000 unoccupied SRO hotel rooms/units in
Los Angeles that they and others—including the City of Los Angeles—could
repurpose for housing.

AHF's Housing Philosophy

Prevent gentrification and homelessness by keeping rents under
control and discouraging evictions.

Preserve communities by supporting progressive land use policies
that maintain neighborhood integrity.

Produce affordable housing through adaptive reuse and
cost-effective new construction.

AHF is one of the three formal proponents of the Yes on Prop 10 campaign
along with the Alliance of Californians for Community Empowerment (ACCE
Action
) and the Eviction Defense Network (EDN).
Proposition 10 has earned the broad support of over 150 labor, housing
advocacy, community, and faith-based organizations throughout the state
as well as the endorsement of the California Democratic Party during its
recent convention in Oakland.

AIDS Healthcare Foundation (AHF), the largest global AIDS
organization, currently provides medical care and/or services to over
968,000 individuals in 41 countries worldwide in the US, Africa, Latin
America/Caribbean, the Asia/Pacific Region and Eastern Europe. To learn
more about AHF, please visit our website: www.aidshealth.org,
find us on Facebook: www.facebook.com/aidshealth
and follow us: @aidshealthcare

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