Debunking Yes on S Mailer -- Part Four

lie 3

Late last year, a report from Beacon Economics commissioned by the Coalition to Protect L.A. Neighborhoods & Jobs laid bare the effects of Measure S. When Measure S’s backers tried to challenge us in court, they wound up stipulating legally to the economic effects of their two-year moratorium. It’s not often that initiative backers sign on to their opponents’ agreement -- but it’s not often that someone proposes a housing ban in the middle of a housing crisis, either.

Here’s Gary Toebben, President & CEO of the Los Angeles Chamber of Commerce, explaining the impacts that Measure S’s backers signed off on:
Beacon Economics calculated the effects that the two-year moratorium would have on Measure S.

It would shrink L.A.’s economy by $3.8 billion.

It would eliminate 24,000 jobs, including 14,000 in construction alone. This would mean almost $1.2 billion in lost wages (and you can imagine what that would do to homelessness.)
The disappearing economic activity means that public funds would dry up too. Revenue from permit fees and associated park and school funding: slashed. Sales taxes, property taxes, and hotel taxes, too. Beacon calculated that one year of a construction ban would wipe $70 million from the public treasury.

They did all this using city-level data and an economic impact analysis formula based on federal standards. Measure S’s backers have made a lot of noise about Beacon’s report, in court and in their mail. But they have yet to challenge its math — or even show any work of their own.

Thanks,
Gary
Those figures only take into account the two-year moratorium in Section 4 of Measure S. Tomorrow we’ll look at Section 5 and the “silent moratorium” that could stretch out these punishments far into the future.

What will Measure S put in the mail next? If you have a question about a Measure S "fact", send it to info@goestoofar.com. With the broadest coalition in Los Angeles history, we definitely know someone—from a neighborhood council, a homeless services provider, or a business or labor group—who can untwist what they’re saying.