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Council sets TEFRA hearing after contentious public debate over Playa Vista bonds
Summary
After hours of public comment both for and against, the Los Angeles City Council set a Tax Equity and Fiscal Responsibility Act (TEFRA) hearing on Playa Vista housing bonds for Oct. 2 and approved the motion to schedule the hearing by a recorded vote.
Los Angeles City Council scheduled a TEFRA hearing on statewide tax-exempt bond financing for the Playa Vista Fountain Park affordable housing parcel on Oct. 2, following an extended public hearing that featured developers, affordable-housing advocates and environmental and neighborhood groups.
The hearing date was set by an amending motion introduced for the record by Councilmember Joel Wax and carried on the floor with a 10-0 recorded vote. The council’s action does not itself award bond financing; it schedules the federal-tax-code hearing required if the city’s housing authority pursues tax-exempt bond proceeds for the project.
The debate centered on two opposing claims: supporters said the project would produce hundreds of affordable units on the Westside, while opponents said the…
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