City Hall faces thousands of dollars in debt each month

A $50,000 electric bill? The cost of cooling L.A.’s biggest houses in a heat wave? The cost of installing new fire sprinklers? As City Hall struggles to clear thousands of dollars in debt each…

City Hall faces thousands of dollars in debt each month

A $50,000 electric bill? The cost of cooling L.A.’s biggest houses in a heat wave? The cost of installing new fire sprinklers? As City Hall struggles to clear thousands of dollars in debt each month and to cover expenses including salaries, security and garbage collection, it has been forced to hire thousands of temporary workers. “I’ve been telling people for years to get out of debt,” said Councilman Bernard Parks, who took the unusual step of resigning amid financial difficulties last month. He added: “I realize I’m talking to the choir in a lot of these cases.” Last month, Parks and Councilwoman Jan Perry said the city was losing $15 million a year. “My family is facing this every year,” Parks said. City officials say the losses, which they blame on bad real estate loans and the city’s inability to sell its parking meter revenue as an investment, have come on top of other losses as a result of the recession – $3.5 million in 2008 and $1.2 million in 2009.

A $50,000 electric bill? The cost of cooling L.A.’s biggest houses in a heat wave? The cost of installing new fire sprinklers? As City Hall struggles to clear thousands of dollars in debt each month and to cover expenses including salaries, security and garbage collection, it has been forced to hire thousands of temporary workers. “I’ve been telling people for years to get out of debt,” said Councilman Bernard Parks, who took the unusual step of resigning amid financial difficulties last month. He added: “I realize I’m talking to the choir in a lot of these cases.” Last month, Parks and Councilwoman Jan Perry said the city was losing $15 million a year. “My family is facing this every year,” Parks said. City officials say the losses, which they blame on bad real estate loans and the city’s inability to sell its parking meter revenue as an investment, have come on top of other losses as a result of the recession – $3.5 million in 2008 and $1.2 million in 2009.

City Hall struggles to clear thousands of dollars in debt each month and to

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