Good morning, it’s Wednesday, April 22. You can expect the valiant California sun to ultimately prevail over a gray morning (mid 70s).
In today’s newsletter, we have millennials reviving century-old social clubs, the unexpected rise of Xavier Becerra in the governor’s race and a wagyu brouhaha. But first, the city’s next fight over vacation rentals is likely coming soon.
A Passage Buried in L.A.’s Budget Hints at an Unusual Airbnb Gambit
Deep in L.A. Mayor Karen Bass’ proposed budget, there is a single passage that, to the untrained eye, reads like another speck of bureaucratic jargon in a 524-page sea of it:
Instruct the Office of Finance and the City Administrative Officer to report with recommendations to allow the pre-payment of Transient Occupancy Tax in advance of the 2028 Olympics from any payer that wishes to assist the City in accelerating critical infrastructure projects…
The city budget is a Talmud-like text, obscure and virtually inscrutable to someone not trained to read it. But there is great — potentially even explosive — meaning to be derived for those who know how to correctly decode some of its terse declarations.
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