Latest news with #LosAngelesCountyDevelopmentAuthority
Black America Web
09-05-2025
- Business
- Black America Web
Rebuilding Altadena: Small Business Loans Offered To Businesses Impacted By Eaton Fire
Black America Web Featured Video CLOSE Source: Robert Gauthier / Getty The long road to rebuilding the community of Altadena continues, and a new round of financial good news could be the break that local businesses have been longing to hear since the devastating Eaton wildfire ravaged through the community. On Monday, May 5, the Los Angeles County Development Authority along with Los Angeles County Board of Supervisors Chair Kathryn Barger, officially launched a disaster relief small business loan program for eligible Altadena establishments of up to $75,000. Promising to help businesses in the area to 'recover, rebuild and retain jobs,' qualifying establishments, 'must operate a physical storefront in the areas of ZIP codes 91001 or 91004' and have been fully operational in the Altadena area for a minimum of six months. Other requirements include: providing 'proof of operation through documentation such as business license, lease, or other documentation as deemed appropriate by the Los Angeles County Development Authority,' according to the Los Angeles County Development Authority. Speaking about the new loan program, Barger was optimistic about helping get the community back up and running. 'The Eaton Fire devastated many in our Altadena community, and this program ensures we're providing real support where it's needed most,' she said. 'Small businesses are the backbone of our local economy, and helping them get back on their feet is essential to restoring stability, jobs, and community spirit in the wake of disaster,' Barger continued. Applications for the program began Tuesday, May 6, and will be open through June 3. Additionally, the 15-year loan term — which is said to be distributed directly to Altadena business owners — will have loan payments and interest accrual 'deferred for first 60 calendar months' and 'principal and interest payments will be due and payable starting on the 61st calendar month from funding date over a 10-year amortization.' After such a harrowing start to the year, this may be just the thing that the Altadena community needs to start anew and make the second half of 2025 much better than the first. SEE ALSO: As Altadena Residents Encounter Significant Crime Increase, Authorities Implement AI Cameras To Deter Thieves Nonprofit Purchases Land To Protect Altadena From Predatory Developers SEE ALSO Rebuilding Altadena: Small Business Loans Offered To Businesses Impacted By Eaton Fire was originally published on
Yahoo
14-04-2025
- Business
- Yahoo
LA County shoppers stunned by 'Measure A' sales tax hike as some now pay over 11%
If you live in LA County, you could pay more at the check out. Starting April 1, the sales tax rate in unincorporated parts of Los Angeles County — and in cities without their own special tax measures — increased from 9.5% to 9.75%. But that's just the baseline. Many cities across the county — including Long Beach, Glendale and West Hollywood — will now see a 10.5% tax. Others, like Lancaster and Palmdale, have pushed rates even higher, up to 11.25%, after approving their own additional tax hikes. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it The increase comes as voters approved Measure A in November 2024, which replaced the existing Measure H quarter-cent tax with a half-cent tax hike. The increase is aimed at funding countywide homeless services. Measure A is expected to generate more than $1 billion annually for LA County. It officially took effect on April 1, 2025 and will remain in place until it is repealed by voters. The tax revenue will be split between two initiatives: 60% will go toward homeless services, including programs for mental health, substance use disorders and permanent housing placement. 40% is earmarked for building affordable housing through the newly formed Los Angeles County Affordable Housing Solutions Agency and the Los Angeles County Development Authority. Some cities, including Santa Monica and Pico Rivera, which were previously excluded from Measure H, are now subject to the new rules. The change might feel minor — just a few extra cents on smaller buys — but on bigger-ticket items, those cents can really add up. CBS News reporter Jeff Nguyen visited Westlake Village, a city divided by county lines — and also bottom lines. One side, in Ventura County, pays just 7.25% in tax while the LA County side of the city now pays 9.75% tax. He spoke to one shopper who says she'll go to the side of town that has lower taxes. 'So if I have a choice, I'm going to the one where it's less,' Laura told CBS. Another shopper was frustrated by the changes during a time when she's trying to spend less. 'As soon as I saw the bill today, I was like, whoa! I'm pregnant so I'm trying to save money during this time,' shopper Brittney Mukhar told CBS. Adding to the frustration, not everyone is convinced the additional funds will be well spent. LA County leaders have faced criticism after a recent audit found the Los Angeles Homeless Services Authority (LAHSA) could not track how nearly $2.5 billion in funding was spent. 'I'm all for helping the homeless — I'm not for wasting my money,' said Laura. Read more: The US stock market's 'fear gauge' has exploded — but this 1 'shockproof' asset is up 14% and helping American retirees stay calm. Here's how to own it ASAP With higher prices and economic uncertainty already straining household budgets, even a modest increase in sales tax can affect your bottom line. Here are a few ways to soften the blow. If you're buying expensive electronics, furniture or even a car, consider shopping in a neighboring county with a lower sales tax. A drive to Ventura County, for example, could save you hundreds of dollars on a large purchase. Even a small uptick in spending adds up over time. Review your budget and tweak spending categories — especially for things that are now taxed more heavily. Ask yourself whether a purchase is necessary or if it can wait until a sale — or until you're in a lower-tax zone. Use store apps, digital coupons and meal planning to save on groceries and essentials. Every little bit helps offset the higher tax. If you can pay off your balance in full, cash back cards can help take the sting out of taxes and everyday spending. Look for cards offering extra rewards on groceries or gas and use those rewards to offset the tax increase. While the aim of the new sales tax is to address one of the county's most pressing issues, everyday consumers are left to figure out how to make their dollars stretch a little further. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
