The LA City Controller’s Office has completed an audit which shows that the City has neglected to charge developers for fees that could bring tens of millions of dollars in revenue. Also troubling is the fact that over $50 million dollars in fees which have been collected are not being utilized.
These development fees could be used to pay for infrastructure, services, and parks. With the City struggling to balance its budget, it is puzzling that elected officials have neglected to access this important revenue stream.