Grand Avenue tax breaks defended
Concerned about granting up to $65.5 million in tax breaks for Grand Avenue redevelopment even as the city grapples with its largest budget shortfall in history, Los Angeles officials on Wednesday insisted the project's benefits will outweigh the costs. Daily News.
"We are making sure that this is all there is," Chief Legislative Analyst Gerry Miller said. "What we believe is this money is needed to help build the hotel and we will get a lot more in other revenue that we otherwise wouldn't receive."
Defense of the tax breaks came just days after Mayor Antonio Villaraigosa proposed a $7 billion city budget that seeks to hire more police and firefighters but slashes city spending and proposes dozens of new fee hikes for Angelenos.