CRA Says Lawsuit Hurts Taxpayers, Delays Housing.Business/Politics/News Editors & Legal Writers LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--May 22, 2002 In response to County's decision to file a lawsuit challenging the Community Redevelopment Agency's City Center Redevelopment Plan, the CRA See Community Reinvestment Act. maintains that the County's pending lawsuit hurts taxpayers and delays the creation of new housing, historic preservation Historic preservation is the act of maintaining and repairing existing historic materials and the retention of a property's form as it has evolved over time. When considering the United States Department of Interior's interpretation: "Preservation calls for the existing form, , and economic development. The City Center Redevelopment plan provides for new housing; expansion of homeless and mental health service programs; historic preservation; and job generation. "This plan will benefit the entire Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. region and provide additional tax revenue for County services," said CRA Administrator Jerry Scharlin. "It is disappointing that the County would chose to spend taxpayers' money on lengthy legal battles and delays for needed services." "We will continue to work with the County to find solutions that address their concerns," said David Farrar, Chairman of the CRA Board of Commissioners. "I am optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that when all the decision makers are at the table, we will be able to find solutions that address the concerns of all the involved parties. It is my hope that we will meet as soon as possible. No one wins if this issue ends up in court," he added. On May 15, 2002, the Los Angeles City Council  The Los Angeles City Council is the governing body of the City of Los Angeles, California, United States. gave final approval
for a downtown redevelopment project that could generate up to $2.4
billion in revenues over 45 years. The revenues that finance the
redevelopment project come from new or increased property taxes that
occur as a result of redevelopment induced new development. When a
redevelopment project is established, the city, county, school districts
and other taxing agencies continue to receive the same property tax
revenue that flowed in the year before the onset of redevelopment.
The goals of the City Center project are to create downtown housing, assist homeless service providers, preserve historic buildings, and generate jobs and economic development. The plan is expected to create approximately 12,900 new units of housing -- at least a quarter of which would be affordable to low and very low income households -- and up to 6.7 million square feet of new commercial and industrial development. The CRA is directing all media inquiries about the potential litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. about the City Center Redevelopment plan to its legal department. |
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