City of L.A. Sells Yacht at Big Loss

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The City of Los Angeles has sold its 73-foot yacht Angelena II for $100,000 after investing $4.1 million in the ship, reports CBS Los Angeles.

The City had used the yacht for tours of the Port of Los Angeles. Because many of the tours had little to do with official port business the city’s ownership of the yacht had been criticized.

When news of the vessel came to light in 2012, then Mayor Antonio Villaraigosa took issue with the description of the ship.

“It’s not a yacht,” Villaraigosa said to CBS Los Angeles in 2012. “It’s a boat.”

Since 2012, about $4.1 million had been spent to install lower-emission engines in the yacht, including $489,000 of federal stimulus money.

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