Villaraigosa stands by L.A.'s community redevelopment agency

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Mayor Villaraigosa brought together a broad coalition of non-profits, private companies and representatives from across L.A. -- from the San Fernando Valley to South L.A -- in support of the city's CRA.

The community redevelopment agency is a public agency that puts taxpayer dollars towards redevelopment projects.

The Mayor says the agency has created thousands of jobs, thousands of affordable housing units and a tremendous amount of tax revenue. He called the agencies "the engine of the golden state."

"And so what we've said is -- to the state -- don't balance the budget on the backs of Los Angeles or cities across the nation," said Villaraigosa.

Villaraigosa and other mayors are questioning the $1.7 billion Governor Brown says the state would save by closing the agencies.

Councilmember Richard Alarcon shared many examples of how the CRA has helped the city.

"If you watched the transformation of Hollywood from the troubled neighborhood of twenty five years ago, to the bustling destination point today. You would know that that could not have happened without CRA's powerful focus, leverage and support at that time," said Alarcon.

Alarcon also said it didn't make sense to leave lots vacant and not continue to invest in new developments.

L.A.'s redevelopment agency is among the 18 that will be audited by the state.