If the State Budget Deal Passes, What Happens to Development?

Going more in depth into the State Budget deal, local redevelopment projects around town could get hit pretty hard, according to the LA Times. $1.7 billion in redevelopment funds will be taken away from local municipalities, which could mean $72 million less for Los Angeles with a total loss of $360 million in private investment and 2,300 less jobs. Of those projects that could threatened include a shopping center in Reseda and a mixed-used affordable-housing project at Hollywood and Western.