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News

VICA hosts AD 46 candidate forum
Assembly hopefuls address hot button business issues

Candidates vying for the 46th Assembly District seat joined VICA for a forum to discuss the issues that are relevant to Valley business leaders. The Newsmaker Connection featured candidates Laurette Healey, Brian Johnson, Andrew Lachman and Adrin Nazarian, and was moderated by San Fernando Valley Business Journal Editor Jaclyn Giovis. Candidates fielded questions about the state budget deficit, film production credits for the entertainment industry and public funding for higher education. The group also discussed the challenges of Sacramento’s political environment. If you missed the forum, the event can be viewed in its entirety on VICA’s YouTube channel. The forum was presented by State Farm Insurance and NBCUniversal, and co-sponsored by UCLA Government & Community Relations.

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Advocacy   

VICA supports new home development 
Project would create thousands of construction jobs 

VICA is backing a project that will invest $229 million in the San Fernando Valley and create 4,360 construction jobs. Hidden Creeks Estates and Preserve is a proposed residential community of 188 luxury homes. The new development will be situated on a 285-acre site in unincorporated Los Angeles County that is Porter Ranch adjacent, with the goal of annexing the area into the City of Los Angeles. In addition to boosting much-needed construction jobs, the project is anticipated to contribute $564 million in new economic activity in the region and a $183 million increase in workers’ earnings in all related industries.




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Local Update: VICA's monthly column in the San Fernando Valley Business Journal

Redevelopment uncertainty hurts economy

During the last few days of 2011, the California economy was dealt a significant blow. A California Supreme Court decision effectively eliminated the state’s community redevelopment agencies by upholding Assembly Bill X1 26. While AB X1 26 was endorsed by the court, a second bill that allowed redevelopment agencies to survive by paying what many called a “ransom” fee to the state’s general fund was rejected. The loss of this option leaves the fate of redevelopment projects across the state in question. California’s redevelopment agencies are now set to be dissolved on Feb. 1 (note: article was originally published prior to Feb. 1). The loss of this important economic stimulator will have a substantial impact on the business community and the state’s long-term economic recovery. Click here to read the entire column in the San Fernando Valley Business Journal.