Los Angeles sidewalks are in an advanced state of disrepair, with little to no funds available. A new proposal in front of the city council puts the burden on new property buyers.
"Half of all properties in Los Angeles are sold at least once every decade. Because the turnover rate is about the same all over the city, sidewalks will be repaired at about the same rate," explains the motion from September of 2005. "In addition, there is a clear economic development benefit to this proposal. It is estimated that in the first year of a point-of-sale program, 460 miles of sidewalks would be repaired, total local wages would increase $102 million, and 2,600 new jobs would be created with average annual wages and benefits of $39,000."
Read the full story: Fixing LA's Broken Sidewalk Problem via the Real Estate Market
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