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Friday, Mar 29, 2024

JEDI Zone Established on Lankershim in NoHo

The Los Angeles City Council has established the city’s initial Jobs and Economic Development Zones, shorthanded as JEDI, creating a new tool to spur economic growth and jobs creation. One of the first two zones will be in North Hollywood. 

The JEDI Zone incentive program will provide a competitive advantage for small and locally owned businesses to thrive and stimulate a recovery in the neighborhoods that need it most.

The NoHo JEDI Zone will be located on Lankershim Boulevard north of the North Hollywood Red Line Station. The other JEDI Zone is the Goodyear Tract in South Central Los Angeles.

Councilmember Paul Krekorian introduced the motion in 2015 to establish JEDI Zones as one part of his Comprehensive Jobs Plan for the City. The JEDI Zones, and the rest of the Comprehensive Jobs Plan, provide incentives for the local economy to employ large numbers of residents in well-paying jobs, to maintain industries that are mainstays of the L.A. economy and to revitalize underserved communities. 

Other JEDI Zones are proposed for Devonshire Street in Chatsworth, Sherman Way in Reseda, and along Van Nuys Boulevard and San Fernando Road. Outside of the Valley, one is proposed for Hollywood Boulevard and another for Harbor Boulevard in Wilmington.

The Zones are selected based on a number of criteria, including percentage of low-and-moderate income residents as well as commercial, industrial and retail usage. 

The program comes with an extensive business incentive plan. In addition to permit subsidies, JEDI Zones enjoy a façade improvement program, access to capital, loan program fee and interest reduction, and compliance assistance. 

“We must do everything we can to attract new businesses and industries into Los Angeles,” Krekorian said in a statement. “Through incentives, subsidies, and consultation with experts, the city is enhancing the economic opportunities available to businesses and spurring growth for those that have already invested in our future by doing business in our communities.” 

Krekorian devised the JEDI program to replace the Community Redevelopment Agency of Los Angeles, which was eliminated by then California Gov. Jerry Brown in 2011. 

“The objective here was to identify areas that are uniquely located to have enhancements,” Krekorian said. “Especially since we don’t have (a redevelopment agency). And then to provide a comprehensive integrated process of business incentivization.”

That package includes everything from enhanced access to capital to reduced fees for development, microloans for small firms and connecting employers to lenders and to employees.

It also includes guidance for compliance.

“Our small businesses don’t have the time and resources to devote to compliance,” he said.

North Hollywood, which has been a central focus for Krekorian, seemed like a good place to start, despite the fact that NoHo has become an industrious satellite of Burbank with its entertainment and tech companies.

“North Hollywood is what it is today because of redevelopment,”’ Krekorian said. “My hope is that JEDI will help expand the success of NoHo to surrounding areas that have not benefited from the progress of NoHo as we would’ve liked.”

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