Council Member Grama supports $65M Balboa housing project amid bond concerns

May 10, 2025 | Los Angeles City, Los Angeles County, California


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Council Member Grama supports $65M Balboa housing project amid bond concerns
During the recent Los Angeles City Council meeting on May 9, 2025, significant discussions centered around two key topics: an affordable housing project in Balboa and proposed changes to the city's crossing guard program.

The council addressed a proposal for revenue bonds aimed at funding an affordable housing initiative that involves repurposing office space. One council member expressed support for the project, highlighting its potential to address housing shortages. However, concerns were raised regarding the choice of Capstone Equities, a New York-based developer, to lead the project. Questions emerged about the lack of local nonprofit developers and the appropriateness of using mortgage revenue bonds, which could better support homeowners and reduce homelessness risks.

In a separate discussion, the council reviewed a budget memo from the Department of Transportation (DOT) suggesting the layoff of 460 crossing guards, proposing to replace them with traffic officers. Critics of this plan argued that it would not only reduce the number of corners served but also fail to save the city money, as traffic officers often earn more in overtime than their base salaries. The potential shift was described as an ineffective and costly proposal, with calls to preserve the crossing guard program for its community benefits and familiarity.

Overall, the meeting highlighted ongoing challenges in addressing housing needs and ensuring community safety, with council members and public speakers advocating for thoughtful solutions that prioritize local involvement and effective resource management. As discussions continue, the implications of these proposals will be closely monitored by both council members and the community.

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