Full Steam(er) Ahead

The Downtown spending scheme is moving full speed ahead, on time and over budget. . .

With the failure of Amendments 60, 61 and Proposition 101 on November 2nd, the contract with Artspace can move forward.  The $550,000 contract with the private company out of Minnesota to investigate and plan for a low-income housing project for artists can now move forward.  Also, with the failure of the three citizen initiatives will be the ‘revitalization’ of the LAEDC – a new, full-time position charged with bringing ‘creative sector’ business to town with the use of incentives and other propoganda.

Over on 3rd, the second phase of the $345,000 temporary parking lots are complete.  The acquisition and demolition being the first two phases.  Crews will likely move on site in the next few weeks to bring the dream of a temporary parking lot costing over 1/3 of a million dollars to reality.

Rialto Bridge is moving forward extremely fast.  Using phrases like, ‘performance based’ lease, it appears that the City has worked out a way to subsidize the rent of the private restaurant that will move in on the first floor.   This definately leaves one to ponder the role of government in light of the continually struggling private sector in Downtown – is the industry booming so much that Henry’s, the Pourhouse, 4th St. Chophouse, Baja Fish Co., Lil Mike’s, the Black Steer can weather the introduction of a competitor that you and I will be subsidizing until they prove they can afford a hard cost that the others are (obviously) forced to pay?

RFP:  TST is wrapping up their end of the deal with the City of provide an ‘RFP’ to promote the City’s properties and cash incentive policies with potential investors.

What’s next on the horizon?  Stay tuned to find out where this fast-moving train is heading next. . .