LOS ANGELES : CRA Agrees to Spend $9.8 Million on Projects
The Community Redevelopment Agency on Monday agreed to spend $9.8 million to help Los Angeles pay administrative and engineering costs related to construction of the Central Library, Convention Center and Figueroa Street widening projects.
The money, which was offered during a meeting of the City Council’s Community Redevelopment and Housing Committee, is a portion of the $25 million that the agency intends to contribute to the city’s 1992-93 budget, CRA officials said.
The agency plans to provide $10.9 million to pay 1992-93 debt service on the expansion of the Convention Center. Another $4.3 million in debt to the city has been reimbursed, officials said. Freed from those obligations, $25 million in the city’s $3.8-billion budget will be devoted to police, fire and other services, officials said.
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