Twelve-member commission charged with saving L.A.'s economy

Listen to the full audio story
Show Embed Code | Download the MP3

Los Angeles City Council President Herb Wesson held a news conference Thursday at City Hall to announce the beginning of a new group called "The Los Angeles 2020 Commission," that will strive to save the city's economy.

"What they're going to do is assess the city's financial situation, give us a report, kinda like a doctor's report, a base line, and then they're gonna come back with a series of suggestions," Wesson said.

The city is facing an estimated $165 million budget deficit after Proposition A was defeated. Prop A was a measure on the March 5th ballot that would have increased the city sales tax by a half-cent.

Former U.S. Secretary of Commerce and former U.S. Trade Representative Mickey Kantor will head the commission.

The 12 members are all volunteers and the commission will be privately funded.

In order to hear what the public has to say, the commission will hold both public and private meetings to devise solutions for the economy.

Former Governor and commission member Gray Davis was already jotting down ideas during the news conference.

"We have every right to be as prominent in technology industries as San Jose is," Gray said. "We have every right to be the 3rd or 4th largest Convention Center in the country. We're probably instead about 15th."

Another commission member and former U.S. Secretary of Labor Hilda Solis is pleased about the diversity of the commission members.

"We've got people from all sectors both public and private elected officials," Solis said. "You also have people who have worked here in the city and many have given many many years of service."

Wesson told commission members that he would not disappoint them or this economy.

"Leadership is about doing what you have to do," Wesson said. "I will not let this city go over the fiscal cliff. I will lead the council. I won't manage it. I will do my damndest to make sure we stay afloat."

In July, the commission will release a summary of the public and private meetings to the mayor and council members.