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
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.
LA Parking Reform is Bearing Fruit
Changes to minimum parking requirements near transit lines are spurring more residential development with little or no on-site parking.
LA Zoning Reforms Could Yield Up to 250,000 New Homes
A draft plan would speed up permitting for residential projects with an affordability component and make more buildings eligible for adaptive reuse.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
The Five Most-Changed American Cities
A ranking of population change, home values, and jobs highlights the nation’s most dynamic and most stagnant regions.
‘Quality Work, Fast’: NC Gears up for Homebuilding After Helene, Trying to Avoid Past Pitfalls
The state will field bids to demolish, repair and rebuild homes in the mountains. After struggles in eastern NC, officials aim to chart a different course.
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
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.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions