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CityWatch Los Angeles
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LA WATCHDOG - As a result of a return of over 32% on its investment portfolio, the Los Angeles Fire and Police Pension Plans (“LAFPP”) are 109% funded as of June 30, 2021, resulting in a surplus of $2.5 billion based on the market value of its investments.
LA WATCHDOG - In June of 2020, the Los Angeles Unified School District contracted with Menlo Park based SummerBio to perform Covid testing services at a cost of approximately $12 per test.
LA WATCHDOG - The Los Angeles Times recommended that the City Council be enlarged to 31 members, an increase from the current level of 15 elected representatives.
LA WATCHDOG - The Los Angeles City Employees’ Retirement System (commonly known as “LACERS”) had a 29% return on its investment portfolio for the fiscal year ending June 30, 2021.
LA WATCHDOG - Former Councilman Jose Huizar is awaiting trial in Federal court. Former Councilman Mitch Englander is in jail.
LA WATCHDOG - The Los Angeles Zoo is asking the City Council to approve its $650 million Vision Plan that will “transform the Zoo into the environmentally sustainable, world-class destination and wildlife conservation center that Los Angeles deserves.”
LA WATCHDOG - The City of Los Angeles is considering a number of large infrastructure projects that will result in significant tax increases if approved by the voters.
LA WATCHDOG - Public banking advocates are on a roll.
LA WATCHDOG - The City’s two underfunded pension plans, the Los Angeles City Employees’ Retirement System and the Los Angeles Fire and Police Pensions, may no longer be underfunded as a result of blockbuster returns on their investment portfolios for the fiscal year that ended on June 30, 2021.
LA WATCHDOG - The City of Los Angeles budget cycle for the fiscal year beginning July 1, 2022 officially started on September 13 when Mayor Eric Garcetti issued his Fiscal Year 2022-23 Budget Policy and Goals.
LA WATCHDOG - Recently elected Councilman Kevin de Leon announced that he is a candidate to be the next mayor of the City of Los Angeles.
LA WATCHDOG - The City Council is considering a 2022 ballot measure that would amend the City Charter to limit bid preferences on City contracts to include only business located in the City of Los Angeles.
LA WATCHDOG - Former City Councilman Jose Huizar has been indicted on federal racketeering charges in connection with his shakedown of real estate developers in a $1.5 million pay-to-play scheme.
LA WATCHDOG - While Californians are awaiting the outcome of the vote to recall Governor Gavin Newsom, others are already focusing on the November 8, 2022 ballot.
LA WATCHDOG-Everybody loves trees and green space, especially in crowded, disadvantaged neighborhoods of the City where there is a scarcity of parks, recreational opportunities, and open space.
LA WATCHDOG - The Bureau of Sanitation is considering the development of its Clean Water Campus, a 159,000 square foot facility with a 750 car parking facility, that is expected to cost more than $100 million.
LA WATCHDOG - Seven years after the City entered into a deal for Fire Station 83, you have to wonder what the hell is going on with this facility that is located at 5001 North Balboa Avenue in Encino in Council District 5 represented by wannabe controller Paul Koretz.
LA WATCHDOG - The Los Angeles 100% Renewable Energy Study (“LA100”) explored multiple pathways for the Department of Water and Power to achieve a 100% clean energy future by 2045.
LA WATCHDOG - City Councilman and wannabe mayor Kevin de Leon (“KDL”) has been outspoken about holding the members of the City Council accountable for failure to meet the goal of creating 25,000 new housing units by 2025.
LA WATCHDOG - Every two or three years, the City Council and the Mayor approve new budget busting labor agreements* with the campaign funding leaders of the City’s public sector unions.
LA WATCHDOG - The 2021 Assessment Roll for the 792,559 properties in the City of Los Angeles rose to a record $724 billion, an increase of $28 billion, or 4%, from 2020.
LA WATCHDOG - A recent poll indicates that the September 14 special election to recall Governor Gavin Newsom is essentially a tossup, with 50% of likely voters opposed to the recall while 47% are supportive.
LA WATCHDOG-The botched rollout of the new DWP billing system has already cost Ratepayers a bundle, whether through billing errors and the massive cost overruns on the development of the Customer Information System.
LA WATCHDOG-Has the City Council learned anything about transparency over the past year?
LA WATCHDOG-As part of the Department of Water and Power’s study to achieve a carbon free future by 2045, it is proposing that a third of the City’s single family residences install rooftop solar systems at a total cost of $3 to $5 billion, or $15,000 to $25,000 for each of the 200,000 homes.
LA WATCHDOG-Reliable sources in Washington are saying that the Biden administration is having second thoughts about appointing Los Angeles Mayor Eric Garcetti to be the country’s Ambassador to India, a country of increasing strategic importance to the United States in its efforts to curtail the political and economic influence of the People’s Republic of China.
LA WATCHDOG-The City Council and its lack of financial discipline have once again created a Structural Deficit, where the increase in spending is greater than the growth of tax revenues.
LA WATCHDOG-One of Mayor Eric Garcetti’s Back to Basic Priorities was for the City to “Live Within Its Financial Means.”
LA WATCHDOG - In a word, NO.
LA WATCHDOG--The City’s Reserve Fund is intended to be used for emergencies and unforeseen expenditures, such as those created by the recent pandemic, an earthquake, or a wildfire.
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