City-Subsidized Tax Breaks Rise Higher For Downtown L.A. Project

Estimates of the tax breaks required by developers of a massive mixed use cultural and business center in downtown L.A. have risen more than 50%, according to a recent report. The city-subsidized tax breaks have upset some residents and officials.

1 minute read

February 7, 2007, 6:00 AM PST

By Nate Berg

"The tax breaks sought by developers of the massive Grand Avenue project are indispensable for getting the high-rise development off the ground, a long-awaited city report found, but could end up costing the city more than originally believed."

"Early estimates put the tax rebates at $40 million over 20 years, but the legislative analyst's report Friday estimated the rebates could cost as much as $66 million."

"While the tax breaks must still be approved by the City Council, the legislative analyst's report is a strong indication that the city will greenlight the project, which backers say would create an urban hub in the heart of the city."

FULL STORY: Grand Avenue project needs help, report says

Saturday, February 3, 2007 in The Los Angeles Times

Community / Economic Development Urban Development California

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Start Learning

Advertise with us

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.