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The program was the legislative response to riots that erupted in 1992 in Los Angeles after justification of police officers charged in the beating of an African-American motorist during the arrest. The Community Renewal Tax Relief Act of 2000 authorized the creation of 40 renewal communities and created the New Markets Tax Credit Program . [4]
Bunker Hill is a neighborhood in Los Angeles, California. It is part of Downtown Los Angeles . Historically, Bunker Hill was a large hill that separated the Victorian-era Downtown from the western end of the city. The hill was tunneled through at Second Street in 1924, and at Third and Fourth Streets. [1]
The renewal community employment credit provides businesses with an incentive to hire individuals who both live and work in a renewal community. Employers can claim the credit if they pay or incur “qualified zone wages” to a “qualified zone employee”. The credit is for wages paid or incurred after 2001. The credit is 15% of the ...
Downtown Los Angeles ( DTLA) is the central business district of Los Angeles. It is part of the Central Los Angeles region and covers a 5.84 sq mi (15.1 km 2) [3] area. As of 2020, it contains over 500,000 jobs and has a population of roughly 85,000 residents, [4] with an estimated daytime population of over 200,000 people prior to the COVID-19 ...
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A business improvement district ( BID) is a defined area within whichever businesses elect to pay an additional fee (or assessment) in order to fund projects within the district's boundaries. A BID is not a tax, as taxes fund the government. BID funds are collected and used for the exclusive benefit of the industry that pays the assessment.
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