March 12, 2013
Re "Tax vote reflects differing realities," March 9 The Times should be wary about printing such an enlightening article, which notes that though voters in less well-off L.A. neighborhoods overwhelmingly supported Proposition A (the failed half-cent sales tax increase on the city ballot last week), those in wealthier areas decisively rejected it. To document the wealthy's disdain for taxes that might help the poor risks banal accusations about fomenting "class warfare. " Readers might draw unjust conclusions about those most vociferously opposed to tax increases for the public good.
March 3, 2013 |
Word got around that Jack Kent Cooke wanted to cash out. It was 1977 and the Lakers owner had entered into a divorce that would eventually cost $41 million, a sum worthy of the Guinness World Records for the most costly marital split in history at that time. His mounting legal bills created an opportunity for an eager buyer named Jerry Buss. The onetime chemist, now wealthy from the real estate boom, wanted to purchase not only the Lakers but also the Forum and the Kings. Buss had one problem -- he wasn't the highest bidder.
CALIFORNIA | LOCAL
January 26, 2013 |
The developer of a proposed downtown Los Angeles football stadium and the company behind two planned apartment towers in Koreatown have provided about two-thirds of the funds for the group backing a half-cent sales tax increase in the city, according to the first report released in the campaign. The committee for Proposition A on the March 5 ballot reported that it had raised $185,000 by Jan. 19, with $100,000 coming from stadium developer Anschutz Entertainment Group. The City Council, which is seeking the tax increase to address a $220-million budget shortfall, approved AEG's proposed stadium last year, which involves the demolition and reconstruction of part of the city's Convention Center.
CALIFORNIA | LOCAL
November 14, 2012 |
The Los Angeles City Council agreed to place a half-cent sales tax hike on the March 5 ballot to avert new cuts in city services, drawing immediate opposition from critics in and outside city government. Voters would decide the measure, which will boost collections by an estimated $215 million a year, on the same day they choose a new mayor. And there were signs the proposal already is influencing the race, which is expected to focus heavily on resolving the city's chronic budget crisis.
November 11, 2012 |
A decision by the State Bar of California to move its longtime headquarters in downtown Los Angeles has cleared the way for a $250-million apartment and retail complex on what is now the State Bar's parking lot near Staples Center. Beverly Hills developer Sonny Astani and parking lot giant L&R Group of Cos. bought the 3-acre property from the lawyers' group for $29 million. It is surrounded by Olive Street, Grand Avenue, Pico Boulevard and 12th Street. “This is probably the last large parking lot downtown that is unentitled and undeveloped,” Astani said.
CALIFORNIA | LOCAL
October 19, 2012 |
Los Angeles' top budget official has asked the City Council to draft two tax measures for the March ballot, saying both are needed to avert cuts to police and fire services. City Administrative Officer Miguel Santana said the tax hikes - one on parking revenue, the other on real estate sales - would generate up to $125 million annually for the city budget, which faces a shortfall of $220 million. Without additional money, crime will probably go up, Santana said. "It's impossible for us to move forward and continue to protect public safety from serious reductions without this new revenue source," he said.