LOS ANGELES : Ballot Measure Aimed at Revitalizing Business Areas
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The June 8 general election ballot in Los Angeles will contain a measure that, if approved by voters, would reduce taxes for businesses that open in areas marked for revitalization.
The purpose of the proposal, which was approved for the ballot Friday by the City Council, is to encourage investment and redevelopment of neighborhoods where it has traditionally been difficult or expensive to do business, or in areas designated as enterprise zones. Only new businesses would be affected, said the author of the proposal, City Councilman Mark Ridley-Thomas.
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