Paul Krekorian

Housing, battling racism and a municipal bank top agenda for L.A. council president

Housing, battling racism and a municipal bank top agenda for L.A. council president

Los Angeles should explore whether to create a municipal bank that would finance affordable housing and throw its doors open to the cannabis industry, City Council President Herb Wesson said Tuesday.

Wesson tossed out the idea as part of a sweeping speech that set out his agenda for his final term. In addition to the bank, Wesson said L.A. must take new and innovative steps to battle racism, protect immigrants and build more affordable housing.

“When our grandchildren tell stories of us, what will they say? Will they say we were brave?” asked Wesson, who recently was reelected as council president. “When the history books remember us, will they say that we did...

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