LOS ANGELES
DOWNTOWN
NEWS Volume 39, Number 16
INSIDE
Go Green
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2 Full Body Analyses
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April 19, 2010
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The Stimulus in Downtown
photos by Gary Leonard
Federal Recovery Act Has Already Sent More Than $500 Million to the Community
Analyzing Downtown apartment trends.
5
Electric car facility may come Downtown.
6
YWCA Jobs Corps Campus
Para Los Ninos
REDCAT
Metro Gold Line Eastside Extension
Cornerstone Theater Company
New Genesis Apartments
$967,768
$50,000 rendering courtesy of New Genesis Apartments
$81.9 million El Dorado auction is canceled.
9
Return of the Grilled Cheese Invitational.
12
$66.7 million Pulling strings with a marionette master.
17
19 CALENDAR LISTINGS 22 CLASSIFIEDS
$50,000
$9.6 Million
Six of the more than 50 Downtown Los Angeles entities that are receiving funds from the American Recovery and Reinvestment Act. by Ryan VaillancouRt staff wRiteR
W
hen Congress passed the American Recovery and Reinvestment Act in February 2009, it launched a $787 billion initiative. It also sparked a sharp debate, with some questioning the prudence of government spending as a way to cure a recession, and others warning the funding level was too paltry to make a real difference. More than a year later, it is difficult to tell how effective the federal stimulus has been — the economy is showing signs of rebounding, but it is also
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ROWAN LOFTS
still lumbering, with credit hard to come by and a California unemployment rate of 12.5%. What is indisputable, however, is that some of the money has flowed into Downtown Los Angeles. A Los Angeles Downtown News analysis has determined that Downtown entities have been awarded more than $500 million in Recovery Act funds. Take away public recipients at City Hall and other municipal agencies and that figure drops to about $107 million. The largest grants have gone to public entities such as Metro — the transit agency got $66.7 million to help fund the Gold Line Eastside Extension,
and another $241 million to overhaul its fleet of buses running on compressed natural gas. In Downtown, dozens of small grants have been issued to nonprofit housing developers, a wide array of cultural institutions, schools and other groups. Money was allocated usually to support projects that were in jeopardy for financial reasons, or that needed new staff to reach completion. From a $50,000 grant to fund a staff position at the Arts District’s Cornerstone Theater Company to a $9.6 million award to Skid Row Housing Trust for the construction of a new affordable see Stimulus, page 8
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