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Committee approves study of Climate Resilience District for Palisades fire recovery, adds finance impact analysis
Summary
The committee approved a motion to study the feasibility of creating a Climate Resilience District for areas directly affected by the Palisades fire and added a request that the report include possible financing mechanisms and the potential fiscal impact to the city.
The Budget and Finance Committee voted Feb. 18 to refer a feasibility study on creating a Climate Resilience District for areas directly adjacent to Palisades wildfire impacts to the ad hoc LA Recovery Committee and the Budget and Finance Committee. The motion asks staff to evaluate facility recovery within a resilience-district model.
A committee amendment requested that the report specifically address financing mechanisms for such a district and the financial impact to the city's bottom line for each option. The amended motion was moved, seconded and approved on a 5-0 roll call.
The CAO and recovery staff will include an analysis of potential financing tools and their fiscal consequences in the forthcoming Climate Resilience District report, which the committee said should inform potential implementation and any future council actions.
