No City Money in Community Center
Howard Lloyd’s letter of July 3 regarding the issuance of tax-exempt bonds for the Jewish Community Center in Canoga Park suggested that the city was helping to finance the project. This is simply not true.
The city has allowed itself to be used as a vehicle for the issuance of tax-exempt bonds to many nonprofit/charitable organizations and hospitals throughout Los Angeles. This policy allows these worthy organizations to obtain cheaper financing for projects which serve the interests of many thousands of our citizens--and not at city taxpayers’ expense.
Among the organizations which have issued tax-exempt bonds in this manner: Hollywood Presbyterian Hospital, Cedars-Sinai Medical Center and San Pedro Peninsula Hospital, just to mention a few. Rather than being criticized, the City of Los Angeles should be commended for helping these important institutions provide much-needed services to our community.
ZEV YAROSLAVSKY
Los Angeles
Yaroslavsky represents the 5th District on the Los Angeles City Council.
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