The Los Angeles County Board of Supervisors today approved fourth district Supervisor Don Knabe’s motion to increase and make consistent the County‘s funding for investment in Marina del Rey.
“Marina del Rey is one of Los Angeles County’s most precious regional assets and we need to ensure it has continuous funding for projects that improve the quality-of- life for residents and visitors,” said Supervisor Knabe. “Right now, most of the revenue generated by Marina del Rey goes back into the County’s general fund with very little set aside for improvements to the Marina. That’s simply not fair. My motion called for ongoing funding which will allow for upgrades and repairs to landscaping, bikeways, walking paths, play equipment, community meeting space and other public area improvements because no funding has been available for these items after meeting the most basic of the Marina’s infrastructure needs. I appreciate the Board’s support in making good stewardship of the Marina a regional priority.”
Currently, capital improvements in Marina del Rey are made through the Marina Accumulative Capital Outlay (ACO) Fund and participation fees. Knabe’s motion called for an increase to the yearly allotment for the Marina, as well as more balanced revenue sharing. The annual allocation to the ACO is presently $2 million, half of which depends on meeting revenue targets. Knabe’s motion asked for a total ongoing annual contribution of $4 million.
The County also receives one-time participation fees on leasehold transactions which go back into the County’s general fund with no consistent formula for reinvestment back into the Marina. Knabe’s motion called for a set reinvestment schedule based on fee levels. He also asked for a percentage of transit occupancy taxes (TOT) to go, on an annual basis, to the Department of Beaches and Harbors for use specifically for visitor-serving events, attractions and programs.
“We have made significant strides in developing a vision for the Marina del Rey of the future. The private sector has committed to investments of nearly three-quarters of a billion dollars for the next generation – it is now time for the County to put its money where its mouth is and make our crown jewel a priority,” said Knabe.