With support of Mayor Riordan a new project called Genesis LA is focusing $250 million on 15 major unused parcels in Los Angeles.
Mayor Richard Riordan and Genesis LA announced the capitalization of the Genesis LA Real Estate Fund, the first $1 million corporate sponspor (McDonalds), and the addition of six new sites. The project is intended to target selected sites with investments and new jobs. Critics argue that the identified sites are just regular real estate development projects that don't need special subsidies.
Thanks to Laura Krafft
FULL STORY: Riordan Expands Subsidies to Help Revive Inner City
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