Santa Monica : Board Seeks Investment Policy
The Santa Monica Rent Control Board has asked its staff to draft a resolution asking city officials to invest rent board funds in banks with humane housing policies. The resolution was suggested by Commissioner Wayne Bauer.
Bauer said he hopes the action will lead to the withdrawal of $287,000 from Santa Monica Bank, which has been accused of 32 criminal counts of violating health, building, safety and fire codes in a downtown Los Angeles apartment building.
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