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L.A. financial crisis causes Wall Street firm to reassess utility’s bond rating

One of the nation’s top bond rating agencies Monday announced it would reassess its bond rating of the Los Angeles Department of Water and Power, a move that Mayor Antonio Villaraigosa blamed on the City Council’s failure to approve electricity rate hikes last week. Fitch Ratings withdrew a “AA-” rating …

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Urgent Cash Flow Report From LA Controller Wendy Greuel

City’s General Fund projected to be out of money on May 5th (Los Angeles) – With the City of Los Angeles receiving confirmation from the Department of Water and Power (DWP) that they will not be transferring the $73 million balance from the anticipated Power Revenue Transfer to the City’s …

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DWP rates may rise between 8% and 28% to pay for mayor’s green initiatives

The hike would pay for more aggressive conservation programs and a solar plan designed to create 16,000 jobs as well as cover the fluctuating price of coal and natural gas. By David Zahniser and Phil Willon Households that get their power from the Los Angeles Department of Water and Power …

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Valley Water Expo on April 22, 2010

A Valley Water Expo is planned for Thursday, April 22, 2010 (Earth Day) at the Balboa Sports Center, 17015 Burbank Boulevard. The Expo is being hosted by the Encino Green Committee and co-sponsored by the City of Los Angeles Department of Recreation and Parks and the Encino Neighborhood Council. Further …

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City Controller Wendy Greuel To Speak At Northridge West Meeting

Los Angeles City Controller Wendy Greuel is scheduled to speak at the March Northridge West Neighborhood Council Meeting. She will be speaking about the state of the City, the budget and other issues of interest. The next meeting of Northridge West Neighborhood Council will be March 9, 2010 at 7pm.

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Neighborhood Councils Fear Impact Of Consolidation

From The Los Angeles Daily News The decision by Mayor Antonio Villaraigosa on Monday to merge the Department of Neighborhood Empowerment into another city agency has raised concern over the future of the city’s decade-old experiment with grass-roots democracy. To Villaraigosa and many city and neighborhood council leaders, the proposal …

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DONE’s General Manager Bong Hwan Kim Steps Down

The Department of Neighborhood Empowerment will be merged with the Community Development Department (CDD). Mr. Kim has resigned as the General Manager of the Department of Neighborhood Empowerment (DONE) for the City of Los Angeles. BongHwan (BH) Kim has been actively involved in advancing social, political and economic development in …

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