Greuel Courts Valley Business Leaders Day After Fiery Debate in Sherman Oaks

With about a month left before the May 21 general election, mayoral candidate Wendy Greuel today courted Valley business leaders with a 35-page plan on her goals as mayor, while her opponent, City Councilman Eric Garcetti, touted endorsements by Valley leaders.

Greuel released a "blueprint" of her policy goals at the Valley Industry and Commerce Association, a Valley-based business chamber, highlighting in particular a plan to gradually eliminate the city's business tax, create a $50 million fund to nurture tech jobs in Los Angeles, and reform the city's contracting practices to make it easier for small businesses to participate.

"The city of Los Angeles has far too much talent and far too many resources to be falling behind other major U.S. cities," she said. "As mayor, I will put a renewed emphasis on putting all of Los Angeles back to work and in restoring L.A. as a regional leader in business growth."

The report also details how she expects to find $175 million in savings and revenues to help remedy the city's ailing budget. The steps include cutting employee health benefit and worker compensation costs, going after parking lot operators who evade paying taxes, spending less on consultants to manage pension investments, and moving $30 million from the City Council's discretionary funds to the general fund.

She also proposed several pension reform measures, such as raising the retirement age for non-sworn city employees, capping the salaries used to calculate pension benefits and offering a pension buyout plan so that the city can decrease its long-term pension obligations. She said she would also stop pension spiking and double-dipping practices that contribute to inflated pension costs.

She also detailed in her report how she would tackle education, traffic congestion, public safety, the environment and government transparency issues.

Garcetti's campaign released a statement today asserting Garcetti's own support in the Valley, announcing endorsements today by Assemblyman Adrin Nazarian and former Los Angeles Councilmember Joel Wachs. In addition to pointing out that Garcetti was born and raised in the Valley, they also reiterated previously announced supporters from the Valley, including Council members Paul Koretz, Paul Krekorian and Tom LaBonge; and LAUSD School Board Member Tamar Galatzan.

Garcetti spokesman Jeff Millman said Garcetti has done his part balancing the budget and instituting pension reform "that saved the city $308 million," and accused Greuel of inaction during her "11 years as a Councilmember and Controller."

"She has never balanced the city's budget," he said. "And she recently told city unions she opposed pension reform and workforce deductions."

Also see this story about the contentious debate at the Sherman Oaks Homeowners Association meeting:

Sparks fly between Los Angeles mayoral hopefuls Eric Garcetti, Wendy Greuel at Sherman Oaks debate