The City of Los Angeles could seek Federal CARES Act funds to further a proposed makeover of the Hollywood Walk of Fame under a proposal floated by Councilmember Mitch O'Farrell.
The Walk of Fame's master plan, part of an initiative called "Heart of Hollywood," calls for a variety of improvements to 1.8 miles of Hollywood Boulevard and Vine Street, including repairs and expansions of terrazzo sidewalks, new street trees and furniture, and pedestrian plazas.
According to the motion, the City has already allocated $6.2 million in funds to the Walk of Fame master plan, which is eligible for addition funding due to its location within a Federal Opportunity Zone. Those existing funds could be leveraged to obtain additional money from the U.S. Department of Commerce via the CARES Act, the COVID-19 relief package adopted by Congress in March.
O'Farrell's proposal calls for tapping into approximately $1.47 billion in CARES Act fund which have been earmarked for infrastructure and economic development grants. Applicants in the Western states will compete for a pool of approximately $266 million in funding. Individual projects are eligible for grants of up to $30 million, with a requirement of 20 percent local matching funds.According to the agency's website, grants are to be administered on a first-come, first-serve basis. Applications are to be evaluated based on a project's ability to create jobs, the relative economic distress of the region, and the applicant's past performance under Federal financial assistance awards.
The motion calls for the City's Economic and Workforce Development Department to apply for up to $30 million in funding for the project.
O'Farrell's proposa is scheduled for a vote at the June 16 meeting of the City Council.
- Walk of Fame (Urbanize LA)