Redevelopment Agency Allocates $885M For LA Projects
LOS ANGELES (AP) — The Los Angeles Community Redevelopment Agency has allocated $885 million for projects throughout the city before it is possibly dissolved under terms of the austerity budget Gov. Jerry Brown has proposed for California.
The six-member commission governing the redevelopment agency voted unanimously for the allocations on Friday.
The projects involve infrastructure, affordable housing and cultural facilities.
Commissioner Kenneth Fearn says there would be no assurance the money would go back to the city of Los Angeles if it falls into state hands.
Eliminating local redevelopment agencies is proposed in Brown's budget, which calls for $12.5 billion in cuts.
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