Is Los Angeles Going To Offer Tax Breaks and Subsidies With CRA Money For Royal Family of Dubai Investment? (Grand Avenue Project)
Since Grand Ave Project is a City, County & CRA (State) project on City, County and State public land, and the Royal Family of Dubai just invested in the project, does that mean the City and County of L.A. is doing business on public land with an overseas limited monarchy that is part of the United Arab Emirates? Maybe this is all hunky-dory, but I wonder what voters would have said about this business deal on public land and public trust? There is a lot of real estate investment of private projects across the U.S., but this is a City and County project, not just private. (Does that make a difference?)
And keep in mind, the City, County and CRA bent over backwards to offer all kinds of corporate welfare tax breaks/subsidies, only to now benefit one of the richest oil producing families in the world!!! ONLY IN L.A.!!!
There is a lot of talk about stimulating the U.S. economy. But The City of Los Angeles, Los Angeles County and LA CRA are also helping to stimulate the economy of Dubai. First bend all the rules and give away the farm to the rich developers...THEN, have profits sent over to Dubai. (So the profit isn't staying in the country.) Maybe for a private deal this ain't a problem, but this is our local government sending the profits out of the country in some experimental, concocted public/private partnership. (Anything for The Broadfather!)
Click here for more coverage including article by Walter Moore on LA City subsidizing an investment of the Royal Family of Dubai.