Theatre Center’s Financial Woes
Your article stated that in the last decade the Los Angeles Community Redevelopment Agency “has poured nearly $27 million” into the Los Angeles Theatre Center.
The Times also reported (Metro, July 31) that the city did not set aside any money to pay a $230-million refund ordered by the California Supreme Court for money illegally collected from savings and loans. Where will the funds come from to pay that amount--more taxes? The $27 million spent on the Theatre Center, with interest over the last decade, would have totaled $40 million or $50 million by now.
Mayor Tom Bradley is reportedly “deeply saddened” at the center’s prospective closure. I am deeply saddened by the city’s fiscal mismanagement.
JAMES S. ARMSTRONG JR.
Los Angeles
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