"The proposed parcel tax of $4 per square foot would require voter approval. Nazarian plans to introduce a motion to the City Council Friday to initiate steps to put a parcel tax measure on the Nov. 3 ballot. The measure would target large, private recreational membership-based clubs and similar facilities within city limits. If the council approves Nazarian's motion, it would next head to the city attorney's office to prepare a resolution and ordinance to get it on the ballot."
"Nazarian says the measure could generate up to $250 million a year for infrastructure improvements, homelessness programs and other projects. The funds generated could be used for capital improvements, such as curb cuts, fixing potholes and sidewalks, and repaving damaged alleys and streets; supporting the film and television industry in the city with a tax credit and permit fee relief; and a program that offers financial assistance for first-time homeowners in L.A, according to a copy of Nazarian's motion viewed by The Times."
"“Such a framework could provide a meaningful and ongoing revenue stream to support critical investments, including affordable housing production and preservation, homelessness response, infrastructure improvements, economic development initiatives, including support for the film and entertainment industry, and programs that expand pathways to homeownership for Angelenos,” the motion states."
A proposal would place a parcel tax on private nonprofit membership clubs and similar facilities within Los Angeles city limits. The tax would be $4 per square foot and would require voter approval. The City Council must first agree to place the measure on the Nov. 3 ballot, after which the city attorney would prepare the resolution and ordinance. Revenue could support capital improvements such as curb cuts, pothole and sidewalk repairs, and repaving alleys and streets. Funds could also support homelessness response, affordable housing production and preservation, economic development initiatives, and assistance for first-time homeowners. The proposal also includes support for the film and television industry through a tax credit and permit fee relief.
#parcel-tax #local-government-finance #homelessness-programs #affordable-housing #infrastructure-improvements
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