Companies in Los Angeles wanting a share of federal stimulus money will need to work through the State, some county entities and Los Angeles City Hall. At the end of this post are resource links.
The Los Angeles Chamber of Commerce sponsored a business luncheon on July 15 featuring Larry Kosmont, CEO of Kosmont Companies, and Diego Alvarez, Deputy Mayor of Los Angeles who explained how the stimulus money will filter into the greater Los Angeles area.
The funds are actually ARRA funds -- The American Recovery and Reinvestment Act.
The overall spending plan will address needs of federal agencies including the Veteran's Administration and Public Housing Capital Fund. In Los Angeles, Alvarez said the large VA Hospital on the city's west side will receive funding for projects while the capital fund will be used to repair, rehab, and improve public housing in Los Angeles.
LA will touch at least 17 of the 119 different accounts funded in the stimulus bill.
In Los Angeles, there is currently $ 289 million dollars allocated for the local area.
That includes $ 118 million for transportation projects including street resurfacing and left-hand turn signals.
The Public Capital Housing Fund has $ 25.5 million for public housing rehabilitation.
Web resources for the stimulus money are:
www.LACity.org/recovery
www.Recovery.gov
Additional posts over the next few days will point to additional uses of the ARRA funds and views of the Los Angeles Chamber of Commerce on the local business climate.
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