June 15, 2017
City News Service
A City Council Committee continued to debate proposed regulations for Airbnb and short-term housing rental companies Tuesday but made no decision and planned to pick up the issue again later in the summer.
Hundreds of people showed up to speak about a draft ordinance under consideration by the Planning and Land Use Management Committee, and for the first time an overflow area was set up with an audio feed directly into the council chamber so that more people could voice their opinion.
The city does not have an ordinance regulating Airbnb, which connects travelers with hosts looking to rent out their home or a bedroom in their home, but struck a deal with the company last year for it to pay hotel taxes on behalf of its hosts under a three-year agreement, even though short-term rentals are illegal in many residential neighborhoods.
Among the most controversial parts of the proposed ordinance is limiting the number of rental days per host to 180 days a year. Other cities have enacted short-term rental limitations, with Santa Monica limiting them to 60 days and San Francisco limiting them to 90 days.
Los Angeles projects it could collect over $33 million in taxes from Airbnb for the upcoming fiscal year, and has banked on the number in its approved budget, but the company has warned that capping rental days would significantly cut into that number.
One after another, speakers told the committee that a rental cap would severely impact their finances, with potential hardships including being unable to pay their medial bills, send their kids to college or be able to keep their homes.
With the chamber at full capacity, about 200 people also gathered on the south lawn and took turns speaking into a microphone wired into the chamber so the committee members could hear them. Councilman Jose Huizar, who chairs the committee, said it was the first time such a setup had ever been attempted.
“Guests contribute to the local economy, and we need business in our community and we need people to be able to share their homes,” Noreen McClendon, executive director of Concerned Citizens of South Los Angeles, told the committee. “You have heard stories already of people being able to supplement their income and we don’t want that restricted. And I just ask that you take into consideration the stories that you’ve heard, they’re real.”
While Airbnb is fighting the 180-day ordinance, the city has been receiving pressure from other groups to pass a more stringent one. In March, a group that included representatives of the Venice Community Housing Corporation, the Coalition for Economic Survival and the California Hotel & Lodging Association called on the city to limit rentals to 60 days.
“We feel (Airbnb rentals) do not meet the higher safety standards that hotels are subject to, take business away from the hotels and reduce housing for an already tight market,” said Benjamin Young, a vice president with AEG Worldwide, which operates the Los Angeles Convention Center and owns the JW Marriott hotel.
June 08, 2017
City News Service
A comprehensive $5.5 billion plan aimed at reducing auto traffic and congestion at Los Angeles International Airport was approved by the City Council Wednesday.
The centerpiece of the plan is a Consolidated Rent-A-Car Center that would bring together more than 20 car rental offices and feature a 2.25-mile Automated People Mover to eliminate the need for rental car courtesy vehicles to enter the central terminal area and reduce the number of autos driving in and out of LAX by 3,200 each day.
The plan – called the Landside Access Modernization Program – also includes roadway improvements to increase vehicle, bicycle and pedestrian access.
The council unanimously voted to approve the final environmental impact report on the LAMP project.
“This historic investment in LAX is about more than building a world- class airport – it’s about the future we are building for Los Angeles,” Mayor Eric Garcetti said. “LAMP will transform the way Angelenos access LAX, and visitors connect to our city. I applaud the City Council for its commitment to moving this project forward.”
The plan also would create two new intermodal transportation facilities, which would have public parking and passenger drop-off and pick-up areas. To provide access to the Metro system, a People Mover station would be incorporated at one of the transportation facilities, where it would interface with Metro’s Airport Metro Connector station at 96th Street/Aviation Boulevard.
“Improving options for people to get to the airport will help make LAX the world-class airport and first-class neighbor that Los Angeles deserves,” said City Councilman Mike Bonin, who represents LAX and surrounding communities.
“By connecting LAX with Metro rail, improving how travelers can access rental cars and reducing congestion in the Central Terminal Area, we are taking cars off the roads of Westchester and Playa del Rey, we are taking pollution from those cars out of the air and we are improving convenience for the millions of people who rely on LAX,” he said.
The next step in the process for the plan is National Environmental Policy Act approval.
June 01, 2017
LAWT News Service
The Black Business Association (BBA), the oldest ethnic business organization in the State of California, will commemorate Black Music Month by recognizing two nationally-renowned African American entertainment icons: music executive and film producer Clarence Avant, and radio pioneer Lee Bailey. The BBA’s Awards Dinner will take place at the Millennium Biltmore Hotel in downtown Los Angeles on June 20, 2017. Themed “The Business Behind the Music;” Ms. Ethiopia Habtemariam, President, Motown Records & SVP Urban Music-UMPG, Inc., serves as the Awards Dinner Chairperson, and the illustrious Mr. Quincy Jones serving as Honorary Awards Dinner Chairman, for his close and longtime friend, Clarence.
“Clarence Avant and Lee Bailey are two of the most influential executives in the music and entertainment industries,” said BBA President and CEO Earl “Skip” Cooper II. “They each are single-handedly responsible for opening doors and making way for today’s black music genres. It is the BBA’s honor to acknowledge and highlight their contributions to disseminating African American culture around the world.”
Clarence Avant is known as the Godfather of Black Music for his deal-making acumen and business savvy. In addition to managing artists like Blues legend Little Willie John, jazz producer Creed Taylor and composer Lalo Schifrin, he launched two record companies, Sussex and Tabu, which cultivated the careers of Bill Withers, Dennis Coffey, and the S.O.S. Band. As a businessman, Avant worked with Al Bell to finalize a deal to sell Stax Records to Gulf & Western Industries for $4.3 million, a record-setting amount in the late 1960s.
Over the span of six decades, Avant has diligently and steadily built a storied career, including promoting Michael Jackson’s first solo tour and serving as chairman of Motown Records. Along the way, he has mentored such music producers as Jimmy Jam & Terry Lewis, and LaFace Records’ L.A. Reid and Kenneth “Babyface” Edmonds. Avant has been honored with numerous awards including a star on the Hollywood Walk of Fame in 2016.
Legendary broadcaster Lee Bailey launched Bailey Broadcasting Services out of his garage in 1979. This was the humble beginning of the iconic on-air magazine, RadioScope, which lasted for two decades. The show was a forerunner in syndicated urban radio programming, setting the stage for an entire genre of syndicated radio programming. An early adopter of technology, Bailey launched Electronic Urban Report, EURweb.com, in 1996. Since its inception, EURweb has become one of the premier urban entertainment and headline news sites on the web, with more than two million unique visitors per week.
During the course of his career, Bailey has interviewed music industry superstars ranging from Michael Jackson to Chaka Khan to Don Cornelius. Billboard magazine honored him as the “Best Syndicated Urban Radio Program” and he received the “Men of Courage” award from The Carnation Company.
On several occasions since 1980, the BBA has paid tribute to music industry legends. Among the past honorees are Berry Gordy Jr., Smokey Robinson, Jheryl Busby and Janet Jackson to name a few.
For more information on BBA’s Salute to Black Music Awards Dinner in recognition of Black Music Month, visit BBALA.org.
June 01, 2017
By Cora Jackson-Fossett
Staff Writer
Asian-owned and operated Cathay Bank has appointed Alan Wright as senior vice president and team manager of Business Development. The South L.A. native brings more than 20 years of corporate banking experience to his new position.
Wright, who most recently served as first vice president with California Bank & Trust, will now direct a team of Cathay’s senior lenders and banking professionals in addressing the growth, acquisitions, recapitalizations and traditional financial needs of middle market companies in Southern California.
“The middle market primarily deals with companies that have annual revenues between $25 million and $500 million annually, but there are many minority-owned companies here in the state of California that fit into that description,” said Wright. “From the standpoint that I can assist them, I am happy and anxious to do so as is the bank.”
Assisting minority communities is the impetus that led to Cathay’s founding in 1962. Originally established to provide financial services to L.A.’s growing Chinese-American population, the firm has since expanded its focus to meet the needs of underserved and under-banked areas across the nation. Its network spans from California and Nevada on the west coast to New York and New Jersey on the east coast.
Noting that Cathay’s motto is “An Open Door for All,” Wright explained, “I think it is the responsibility of all banks to reach out to [minority] communities to try to empower them, educate them and have an impact. Cathay Bank has been in the California market for 55 years and we look to service the African American community. To the extent that we can continue to be a partner, that is something that we are anxious to do.”
Wright’s attraction to finance and banking occurred following his graduation from UCLA where he majored in history and African American studies with the intent of attending law school. But after accepting a trainee position with a local bank, he “fell in love with finance and lending” and decided to pursue his MBA at Pepperdine University’s Graziadio School of Business. He went on to complete programs at Haas School of Business at UC Berkeley and USC’s Lusk Center for Real Estate.
In the area of community service, Wright is on the Board of Directors of Habitat for Humanity Greater Los Angeles and in 2015, received the President’s Volunteers Service Award from President Barack Obama for his work with the organization. He is also a member of the graduate chapter of Phi Beta Sigma Fraternity, Inc., whose mission promotes brotherhood, scholarship and service.
Another aspect of Wright’s community service activities is outreach to young people, especially those interested in a financial or banking career. When interacting with youth, he reaches back to the lessons of his childhood instilled by his parents and grandmother. They taught him a work ethic that emphasized education, discipline, planning and responsibility as well as understanding a budget and the importance of savings.
“I believe that helping young Americans build a sound financial foundation is critical not only for their futures, but for the national economy for generations to come,” said Wright.
“Ensuring that children, particularly those in underserved communities where there is a dearth of financial literacy education, understand the tenants of savings and the usage of credit at an early age can have a profound effect of empowerment and serve to help bridge the gap of financial inequality.”