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L.A. City Council’s spending accounts

Money for pet projects The City Council controls a series of discretionary accounts that members tap into for local projects, programs and events:Street Furniture Revenue Funds $4.8 millionHalf of the revenue from advertisements on city bus shelters and kiosks is divided equally among the 15 council districts. Since November, nine council members have requested transfers of nearly $1.6 million into their offices’ salary accounts.Real Property Trust Funds $10.7 millionHistorically, when a city property was sold, half the proceeds were placed in a fund controlled by the council district where that property was located. Venice has a special fund ($4.3 million) that ensures all of the sale proceeds from that area go back to the Venice community. AB 1290 Economic Development Funds $10 millionA state law provides Los Angeles and other cities with a slice of tax revenue from redevelopment areas. Certain council members can use money from the fund for projects such as pocket parks, community gardens, traffic lights and security cameras.Source: Los Angeles city budget analysts and Times reporting


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