Voters will decide in November on the creation of a cannabis-friendly, publicly owned bank to invest in affordable housing.
Los Angeles is hoping to get into the banking business. A measure on the November 6 ballot would allow the city to charter its own publicly owned bank, which would pursue investments in the public interest.
The municipal bank would be open to California's newly legal cannabis industry, which struggles to find financing from commercial banks. Investments would go toward affordable housing and small businesses, according to the proposal from Council President Herb Wesson. "A municipal bank would have as its mission to reinvest in the community, fund the construction of affordable housing, and finance small business and entrepreneurs," Wesson told The Planning Report in December.
If successful, L.A.'s would be the first public bank in the U.S. in a century; the only one currently in existence is the Bank of North Dakota, established in 1919. But Los Angeles Times writer James Koren notes that the model "has gained steam since the financial crisis and lately seen an influx of support from the cannabis industry." Oakland, San Francisco, and the state of California are also studying the idea.
FULL STORY: Public bank that would boost pot shops, affordable housing could go before L.A. voters this fall
High Housing Costs Driving Down Transit Ridership in LA
When neighborhoods gentrify and displace lower-income residents, transit ridership suffers, new research shows.
LA Falling Behind on Housing Goals
Last year, the city permitted just 30 percent of the number of housing units needed to meet a growing need.
What Has Measure ULA Achieved?
Los Angeles has imposed an additional tax on luxury home sales to generate millions for housing efforts in the city. Shelterforce checks in on where the money has gone, and what’s to come.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Restaurant Patios Were a Pandemic Win — Why Were They so Hard to Keep?
Social distancing requirements and changes in travel patterns prompted cities to pilot new uses for street and sidewalk space. Then it got complicated.
Map: Where Senate Republicans Want to Sell Your Public Lands
For public land advocates, the Senate Republicans’ proposal to sell millions of acres of public land in the West is “the biggest fight of their careers.”
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
California Homeless Arrests, Citations Spike After Ruling
An investigation reveals that anti-homeless actions increased up to 500% after Grants Pass v. Johnson — even in cities claiming no policy change.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Camden Redevelopment Agency
City of Claremont
Municipality of Princeton (NJ)