This week, the L.A. City Council passed a $10.6 billion budget, the largest in the city's history. Mayor Eric Garcetti said a booming economy is bringing in record revenue, which the city will use to increase funding for things like street repair and police overtime
But he added that these aren’t good times for everyone. Garcetti said he expects that an upcoming count of Angelenos experiencing homelessness will show that more people are living on the streets.
The budget allocated $458 million towards effort to ease homelessness, a slight increase from last year. Some of that new spending will go toward trying to prevent low-income renters from falling into homelessness.
The budget also puts nearly $400 million into reserves, to prepare for the next recession, whenever it might hit.