State budget would hit three major L.A. redevelopment projects

Officials estimate that a $1.7-billion cut in redevelopment funds as part of the state budget agreement would result in Los Angeles' redevelopment agency losing $72 million this year, potentially putting 2,300 construction jobs at risk.

The agency says that the cut could mean the loss of more than $360 million in private investment that could leave the city if projects are halted because of the cut.

 Among the threatened projects, according to the agency:

-- A mixed-use affordable-housing project on the corner of Hollywood Boulevard and Western Avenue.

--A shopping center on Sherman Way in Reseda.

-- The rehabilitation of the Orchard Gables Cottage historic site in Hollywood.

Under the budget agreement, cities and counties would lose an additional $1 billion in transportation money, and the state is seeking at least $1.7 billion -- and possibly billions more -- from local redevelopment agencies.

As part of the agreement, lawmakers will also be given the option to greenlight a controversial plan that would give some local redevelopment agencies broad new discretion to tear down and rebuild neighborhoods under their jurisdiction for decades to come, regardless of whether those areas are blighted.

-- Jessica Garrison

Comments

[Bill]

This is great News! These projects were such a waste of money. I only wish they would cut more and really get their house in order. Get rid of the pork!!!!!!!!!

[X-Man]

Bill, you are an idiot. Less redevelopment means less investment and jobst. Again, you are an idiot!

[gio]

An affordable housing complex in an increasingly gentrified Hollywood is "such a waste of money"??? I guess privilege blinds some of us.

[TR]

If you are the redevelopment agency and your budget just got slashed you probably need to get a press release out quick and tell everyone about your most useful projects to get some sympathy. If a strip mall in Reseda is one of your most useful projects then maybe the budget cuts were a good idea. As for the "mixed-use," "affordable housing" project - I'm very suspicious of the behind the scenes political dealings and "private partnerships" that seem to benefit everyone except those who need a roof over their head. The cottage in Hollywood sounds nice though . . .

[Mike D.]

I've never heard of these projects before, and they sound like a TOTAL waste of money. Just when you think you have outrage fatigue over all the fraud and waste, new stuff like this pops up refreshing the outrage. It's a good thing that public money spend on these projects is reduced or eliminated.

[Bob Johnson]

No affordable housing? Oh no, I guess the gang slime will have to stink up another neighborhood, LOL