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

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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.