Source: New York Post
A Los Angeles councilwoman is blasting City Hall for sitting on billions of dollars in property while some lots sit vacant and others remain underused. Councilwoman Katy Yaroslavsky, who represents parts of LA’s Westside, where city-owned land is among the most valuable in Los Angeles, wants LA to create a development agency to hunt down city-owned sites that could bring in money, jobs and housing, as the city faces financial woes. “The City of LA owns billions of dollars of real estate,” Yaroslavsky said.
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