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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.
If the State Budget Deal Passes, What Happens to Development?
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Less money for the CRA? Oh the horror!
Seriously, though. Karma is a bitch.
Yeah, seriously. Oh noes, not the shopping center in Reseda!
Why is the city paying for this stuff anyway? Sounds like it's money that's lining the pockets of private developers.
Funny, did see mentioned that the Govenor was taking a pay cut either. Yeah, so what about redevelopment? Why is there even a department for it? Cut it. Off with its head. Let the corporate private developers take care of it or the citizens. Government doesn't have any business being in "business". That's not what their there for. I could solve the whole thing about 20 minutes, starting with that low life Governor.