According to the L.A. City Planning department:
“On June 14, 2022, the full City Council adopted the targeted amendments. The Housing Element will guide the creation and implementation of the City’s housing policy from 2021 to 2029. On June 29 , the California Department of Housing and Community Development (HCD) informed the City of Los Angeles that its 2021-2029 Housing Element was in full compliance with State law.” The plan is said to begin implementation as early as this February 2023
From the Executive Summary of this report, according to former Mayor Garcetti in his 2021 State of the City address:
“Loving Los Angeles means facing the bitter truth about our past that maps of our city were drawn to protect the wealth of white people and destroy the wealth of Black people and other people of color. Redlining and exclusionary zoning resulted in a city where today Black and Mexican origin families hold 1/90th of the wealth of white families on average, it’s a city where Black people are overrepresented among those experiencing homelessness by a factor of four, and where Latino homelessness accounts for the greatest jump of newly homeless Angelenos.”
You can also learn more about this document via L.A. City Planning’s FAQ page.