The Region - News from Jan. 26, 1987

Los Angeles’ Community Redevelopment Agency, responsible for stimulating commercial and residential development in blighted areas, approved a $286-million budget for the coming fiscal year, representing a 20% increase over last year. Most of the increase, agency officials said, is caused by the expanding scope of a $95-million project to enlarge the Los Angeles Convention Center. The largest part of the 1987 budget, 34%, is to go toward such community projects as the Convention Center and the renovation of the downtown Central Library; 25% is earmarked for housing; 23% for debt service; 12% for commercial development; 4% for transportation and 2% for plans and studies. The budget must be approved by the Los Angeles City Council, whose committees are scheduled to begin considering it Wednesday.