Valleywide : Funds Sought for Garage Construction
Citing critical parking shortages in parts of Los Angeles, City Councilman Mike Feuer has called for the city to explore a new way to raise money for garage construction.
Feuer introduced a motion last week before the City Council that instructs the city administrative officer, the Department of Transportation and the chief legislative analyst to study the idea of issuing bonds to raise money for garage construction.
Studio City is one area where the city has identified land for a public parking structure, but funding has not been lined up. The Melrose-Fairfax and La Cienega Boulevard areas are two other sectors of Feuer’s district that need parking garages, Feuer spokesman Howard Gantman said Tuesday.
The bonds, which would be repaid through parking meter revenues, would not have to be approved by voters. Feuer’s motion asks the city agencies to report back to the City Council’s Transportation Committee and Budget and Finance Committee within 45 days.
The motion will probably be up for a vote by the council on Friday, Gantman said.
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