Support for LAist comes from
We Explain L.A.
Stay Connected

Share This

News

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

construction_jobs_385x261.jpg
LAist relies on your reader support, not paywalls.
Freely accessible local news is vital. Please power our reporters and help keep us independent with a donation today.

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.