Villaraigosa Calls for 'New Tools' After Supreme Court Nixes CRAs

Los Angeles mayor Antonio Villaraigosa issued the following statement Thursday afternoon in reaction to the .

According to knowledgeable sources, there will be no immediate formal statement from the Community Redevelopment agency of the City of Los Angeles.

“This year alone we have created more than 18,400 jobs through the Community Redevelopment Agency in Los Angeles. A proven economic development catalyst, these investments have transformed communities like North Hollywood and Bunker Hill with jobs and opportunity.

Today, the court has spoken. We all must acknowledge the difficult challenge before us to create jobs, world-class schools and safe communities, keys to the future of our Golden State.

Today our schools are in a dangerous and desperate financial position. An investment in education at this pivotal time could save an entire generation, and those to come, from falling behind academically and economically. Our communities have been dealt painful state and federal cuts to public safety while many mayors face an increasing need.

I intend to work closely with leaders in Sacramento and across California to develop a responsible path forward that invests in our schools, our safety and puts the 14 million unemployed Californians back to work. This includes new legislation to provide economic tools to communities most in need.

I will invite mayors from across the state, Governor Jerry Brown, Speaker of the Assembly John Perez and Senate President Pro Tem Darrell Steinberg to meet next month to discuss a sound, long-term solution.

Many will see this decision as a set back, but I see it as an opportunity for California to step forward and responsibly invest in our future."