COUNCIL ALLOCATES FUNDING FOR STUDY OF NORTHEAST VALLEY CRA PROJECTS.Byline: Mary Beth Alexander Daily News Staff Writer The Los Angeles City Council  The Los Angeles City Council is the governing body of the City of Los Angeles, California, United States. approved Friday a $119,000 study to
determine how the Community Redevelopment Agency might spend up to $14
million to revitalize re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. an earthquake-damaged area of the northeastern San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. . Councilman Richard Alarcon said he hoped the study would identify the potential for industry and retail in the revitalization area, which includes North Hills, Mission Hills, Sylmar and Pacoima. ``We really need a market study to tell us where the opportunities are, what we have now, where we should invest this CRA See Community Reinvestment Act. money,'' Alarcon said. ``We could come up with a lot of projects to spend $14 million on really easily. We want to make sure we set the right course.'' Alarcon said the areas targeted for study were hard-hit by the earthquake - not just in terms of physical damage, but economically as well. He said the survey could provide a framework for economic development for many years. ``The study I envision will provide information that will be useful far beyond the earthquake recovery scheme,'' Alarcon said. The joint study conducted by Encino-based Natelson Co. and Udewitz Associates of West Los Angeles
Both companies have provided studies for other CRA projects. |
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