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At CCA's Housing, Land Use & Development Committee meeting on Feb. 21, 2007. From left to right: Roy Willis, Lennar; Council President Eric Garcetti; CCA's President & CEO Carol Schatz; Steve Needleman, Anjac Fashion Buildings / The Orpheum Theatre; and Renata Simril, Forest City.
Garcetti Visits CCA's Land Use Committee
CCA's Housing, Land Use & Development Committee, chaired by
Cindy Starrett
of
Latham & Watkins
with vice chair
Paul Rohrer
of
Munger Tolles & Olson
, met with L.A. City
Council President Eric Garcetti
to discuss the Affordable Housing Trust Fund and housing production issues. Garcetti requested to meet with CCA to discuss ways to provide a permanent source of funding for the City's Affordable Housing Trust Fund. This is an important conversation for CCA, who initiated the discussion on the City's $1 billion housing bond two years ago. This bond measure would have provided $100 million to the Affordable Housing Trust fund each year for the next ten years. The bond nearly passed the required 2/3 vote threshold, receiving 62% of the vote.
Garcetti now hopes to move forward with a plan to use excess business tax revenues, which are currently allocated to the General Fund, to fund the Affordable Housing Trust Fund. According to Garcetti, the City is receiving more business tax revenue now than it did before business tax reform went through several years ago. This excess revenue coupled with returned loan revenues could be a permanent source of funding for the Affordable Housing Trust Fund.
CCA is leading the business community on the issues of development reform and housing. CCA supports public financing for affordable housing projects, but is opposed to such mandates as inclusionary zoning.
CCA Plans Press Conference on Industrial Land Study
Two months ago, CCA hired
Tom Jirovsky
of
CBRE Consulting
to conduct a study of the economic impacts industrial land preservation will have on Downtown's economy, including on job creation. In response to the City's recommendations to preserve the majority of Downtown's industrial land for industrial use only, CCA submitted the study and a comment letter to the City last week. CBRE Consulting found that mixed-use development in certain areas of Downtown's M-zones, including the Fashion District and the area in and around the Arts District, will create more jobs, pay higher wages, and generate more tax revenues to the City than heavy industrial uses.
CCA's President & CEO
Carol Schatz
and
Councilmembers Jan Perry
and
Jose Huizar
will highlight the important points in the study and discuss alternative strategies for Downtown's industrial land at a press conference on
Monday, March 5th
at
Linear City's
Toy Factory Lofts. For more information, please contact CCA's Vice President of Legislative Affairs,
Veronica Perez Becker
.
In addition, Carol Schatz sent a "letter to the editor" in response to a recent
L.A. Times
editorial. The editorial supported industrial preservation in Downtown. Schatz' response, advocating for a more flexible policy, will be published early next week.
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• CCA's President & CEO Carol Schatz appeared on KCET's "Life & Times" on Thursday, February 22nd, to discuss the benefits of the Grand Avenue Project and counter criticisms voiced by L.A. County Supervisor Mike Antonovich. • CCA's Vice President of Legislative Affairs, Veronica Perez Becker, met with Councilmember Herb Wesson to discuss plans for a need-based tenant relocation fee associated with condo conversions. • The Downtown Center Business Improvement District (DCBID) released a demographic survey of Downtown residents and market study of Downtown's economy at a press conference on Tuesday, February 20th. The study shows significant growth in Downtown's economy over the past two years. • CCA's Vice President of Legislative Affairs, Veronica Perez Becker was interviewed by Joe Hicks on KFI regarding the Living Wage Ordinance on Saturday, February 17th. • CCA hosted a fundraiser at its office for Tamar Galatzan, who is running for LAUSD's School Board, 3rd District seat. CCA also co-sponsored a fundraiser for Richard Vladovic, who is running LAUSD's School Board, 7th District seat. CCA IN THE NEWS "'The basic bottom line is this is phenomenally good news for Downtown Los Angeles and therefore the region, because we are spurring so much economic activity that ripples out over every neighborhood...' said Carol Schatz..." Feb 20, Downtown News , "Rich, Young, and Highly Educated," by Jon Regardie. "'This is now a 9 a.m. to midnight Downtown,' Schatz said,...'hopefully, by the time I retire, it will be 24-hour...'" Feb. 21, L.A. Times , " Downtown Has Gained People, but Lost Jobs, Report Says " by Cara Mia DiMassa. "'This is very comparable to what we find in pioneer neighborhoods all over the country,' said Carol Schatz...'We start with a sort of young, hip, creative class and hopefully, then you start bringing in empty-nesters and small families.'" Feb 20, City News Service , "Downtown Isn't For Artists Anymore," by Art Marroquin. "Carol Schatz...tells GlobeSt.com...'Downtown is growing at a phenomenal pace.'" Feb 20, GlobeSt.com , " Population Boom Driving DTLA Revenue ," by Nellie Day.
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