The developer of the Hollywood Palladium Towers project and the project’s main opponent dominated the early fundraising on opposite sides of the Measure S anti-development campaign, according to finance reports filed late Friday.
The AIDS Healthcare Foundation, which opposes the two 28-story Palladium towers project next to its headquarters and bankrolled the drive to place the initiative on the ballot, contributed $510,000 during the fourth quarter of 2016 and $1.9 million for all of last year, including monetary and non-monetary contributions, according to reports filed with the Los Angeles Ethics Commission. That’s the lion’s share of the $514,000 and $1.95 million the Coalition to Preserve LA committee received during those respective time periods.
Crescent Heights Palladium, the entity proposing the Palladium Towers project on the site of the Hollywood Palladium, contributed $500,000 during the fourth quarter and just over $1 million for all of 2016 to the committee opposing Measure S. That’s the lion’s share of the $610,000 and $1.54 million in monetary contributions the Coalition to Protect LA Neighborhoods and Jobs committee received during those respective time periods.
Also known as the Neighborhood Integrity Initiative, the March 7 ballot initiative would place a two-year moratorium on most major development in Los Angeles.
Opposition to the measure also includes the Los Angeles County Federation of Labor and other labor groups, which contributed a total of $118,000 during the fourth quarter and $2.3 million for all of 2016 to a separate committee.
Opponents’ fundraising is expected to ramp up in the next few weeks as the election nears, with many developers and business groups contributing. It remains to be seen if the AIDS Healthcare Foundation will continue to keep pace with its contributions; the organization already gave more than $23 million to two statewide ballot measures last fall.
Public policy and energy reporter Howard Fine can be reached at [email protected]. Follow him on Twitter @howardafine.
