Measure S is a two-year ban on all construction requiring a General Plan amendment, zone change or adjustment to height restrictions. This is more than one-third of all construction in Los Angeles.
If adopted, Measure S will halt construction, costing the city billions in economic activity, halting efforts to build affordable and homeless housing, and eliminating tens of thousands of good jobs with benefits.
Independent economists Beacon Economics, founded by economist Christopher Thornburg, studied Measure S and this is what they found:
Measure S will cost Los Angeles:
- Over 12,000 jobs each year
- Over $640 million in wages for workers each year
- Nearly $2 billion in lost economic output each year
- $70 million in sales, property, transient occupancy and other fiscal revenues each year— enough to hire over 1,000 new policemen or firefighters
- $10.6 million loss to renters each year, increasing rents which will result in over $4.2 million in lost wages
- Over $12 million each year for our local schools
- $14 million each year for parks and recreational facilities generated through Quimby and Finn fees
- $27 million in property tax revenue over the course of the two-year moratorium, and an additional $1.5 million each year in ongoing fiscal impacts.
- Over $10 million in lost sales tax revenue each year from combined upfront and ongoing construction and business activity.
Although the language in Measure S has a two-year limit, the moratorium could extend up to ten years because of loopholes and poison pills written into the law. Additionally, it would set back existing and new projects so far it could take more than a decade to catch back up.
That’s why responsible community leaders and organizations across Los Angeles say NO on Measure S.