The newly established Public Financing Authority for the Unincorporated Santa Monica Mountains Disaster Recovery Financing District held its first meeting, selecting Supervisor Lindsey P. Horvath as chair and approving a plan to guide long-term recovery from the January 2025 Palisades Fire.
At the meeting, the authority adopted its bylaws, held a public hearing and approved the Infrastructure Financing Plan, which will direct future investment in rebuilding and wildfire resilience.
The plan establishes a framework for reinvesting future property tax growth generated within the district back into the community without raising taxes. The district is projected to generate about $245 million over the next 50 years to support infrastructure improvements, wildfire resilience, community restoration and rebuilding throughout the unincorporated Santa Monica Mountains.
"Today's meeting marks an important milestone in our recovery. In the absence of federal recovery funding, Los Angeles County is creatively reinvesting local resources to rebuild the roads, infrastructure, and public facilities our communities need," Horvath said. "This Disaster Recovery Financing District lays an important foundation for the long-term recovery from the Palisades Fire. We won't stop until every family has the chance to come home, critical infrastructure investments are made, and our communities are stronger and more resilient than before."
The plan identifies five priority investment areas: county facility restoration, infrastructure improvements, rebuilding assistance, community restoration, and fire safety and resilience. The authority will prioritize projects based on community needs, public input and project readiness as recovery progresses.
The Public Financing Authority includes Horvath, Supervisor Kathryn Barger, Board Chair Hilda L. Solis, Jonathan Markiles, president of the Sunset Mesa Property Owners Association, and Ronald Romalont, president of the Topanga Chamber of Commerce.
Edited by SMDP Staff