Ferraro Will Not Run for Mayor, Cites Money Factor : City Hall: He says he does not want to raise the ‘obscene’ amount of funds it would take to compete. Four contenders will benefit most by his absence, political analysts say.

Los Angeles City Council President John Ferraro has decided against running for mayor, saying on Monday that he would like to lead the city but does not want to raise the “obscene” amount of money it would take to compete.

Ferraro’s decision, to be announced at a press conference today, removes from the field a well-known veteran politician who was expected to appeal to conservative, pro-business and pro-police voters.

Without Ferraro, the field of candidates to replace retiring Mayor Tom Bradley appears to have been nearly solidified, with nine current and former government officials and a dozen lesser-known contenders.

Political analysts said that four contenders benefit most from Ferraro’s absence--businessman-lawyer Richard Riordan, state Assemblyman Richard Katz (D-Panorama City) and Councilmen Joel Wachs and Michael Woo. Those contenders all have appeal with groups that Ferraro could have competed for--Riordan with conservatives, Wachs and Katz with senior citizens and Woo with Mid-City residents who have been represented by both Woo and Ferraro, the analysts said.

“It solidifies the conservative vote for Riordan,” said political consultant Howard Sunkin, “because there is no alternative available.”

During an interview in his office Monday, Ferraro said his initial impulse had been to run for mayor. He believed his chances would have been “a lot better” than in 1985, when he took 30% of the vote, facing Bradley at the peak of his popularity.

Over the last several months, Ferraro talked to supporters and floated the idea of running as a one-term “caretaker” mayor--someone who would be able to make difficult decisions and help relieve tensions brought on by the riots and recession, while putting aside ambitions for a second term in office.

“The city is in desperate need of strong leadership,” Ferraro said Monday.

But Ferraro said he concluded that raising the $2 million or more needed to be competitive would have been an unpleasant task.

“It’s time-consuming and it’s degrading to have to call people and beg them for money,” he said.

“I would still like to be mayor,” he added. “But I don’t have the same enthusiasm to run that I did the previous time.”

Ferraro, 68, said his health did not color his decision. Although he underwent quadruple-bypass heart surgery last summer, the robust former USC football All-American said he has made a complete recovery.

Ferraro said he can do more for the city as president of the council. He has held that post for five years, during which he won praise for smoothing rancorous debates and petty jealousies among his colleagues.

The 26-year council veteran said the council already is distracted enough from pressing business--including ongoing budget shortfalls--and said he he will be in a better position to find solutions if he does not run for mayor.

He noted that Bradley will be submitting a budget that is expected to show at least a $100-million shortfall for the city on April 20, the same day as the mayoral primary.

“I think it’s important we keep our minds focused on running the city and making decisions,” Ferraro said, “and not running for office.”

In his seven terms on the City Council, Ferraro has been noted more for his statesmanship and negotiating skills than for legislative innovations. That style was in evidence during the furor over the ouster of former Police Chief Daryl F. Gates. Ferraro voted to overturn the Police Commission’s suspension of Gates, but quietly met with the former chief in negotiations that some credited with setting the stage for his retirement.

In a September survey by a political consulting firm, Ferraro’s name was better known than many mayoral contenders. But the survey also showed that nearly one-third of the voters felt they did not know enough about Ferraro to vote for him.