LA Businesses Mobilized for Big Wins
Yesterday’s preliminary election results show that the voice of business leaders were heard to help improve the lives of Californians. Election results are reported from the Secretary of State’s website.
The results of the following propositions are wins for the business community. These are preliminary results as of Nov. 7 at 2:30 p.m.:
Prop. 1, Veterans and Affordable Housing Act: PASS
Authorizes $4 Billion in Bonds to Fund Specified Housing Assistance Programs. This is expected to create 137,000 jobs and generate over $23.4 billion in economic activity.
Prop. 2, Mental Health Care and Housing: PASS
Authorizes $2 Billion in Bonds to Fund Existing Housing Program for Individuals with Mental Illness, at no cost to taxpayers. This Bond will help build permanent supportive housing linked to mental health treatment and services.
Prop. 4, Children’s Hospital Bond: PASS
Authorizes $1.5 Billion in bonds over 15 years to expand and modernize California’s children’s hospitals. This is an investment in providing support to children and their families.
Prop. 6, Attack on Bridge and Road Safety: FAIL
Voters protected more than $6.3 Billion in transportation funding for our roads and bridges by defeating Prop. 6. These transportation funds will protect 68,000 jobs annually, 3,727 projects fixing potholes and roads, 337 traffic congestion relief projects, 453 public transit projects, 554 bridge repair projects, $183 billion in economic growth throughout the state.
Prop. 8, Union Ploy that Risked Patient Care: FAIL
Dialysis patients will continue to have choices in where to receive lifesaving treatment. Proposition 8 was an example of union leaders being willing to risk patients’ lives on a failed power play.
Prop. 10, Housing Freeze Averted: FAIL
Voters reject the idea of expanding local government’s authority to enact rent control throughout the state. The answer to California’s housing crisis is to build more affordable housing, not to discourage construction.
LA City Charter Amendment B, Municipal Financial Institution: FAIL
Voters saw that the City of Los Angeles should not be the guinea pig in the untested idea of a municipal bank. The idea that the city could run it’s own bank was rejected because voters lack confidence when they see how city runs everything else.
Measure W, Forever Stormwater Parcel Tax, Likely to Pass (Preliminary Result)
With 67.48% of voters approving Measure W it seems to be squeaking by the 2/3 threshold required. While Proponents of Measure W have declared victory, we continue to watch carefully as the county counts the remaining estimated 628,000 final ballots. We are also watching with interest any movement of the complaint filed against the county claiming that they used taxpayers dollars for the Measure W campaign ads.