Say NO to Reckless Spending on a Private Development
City Council: We demand you to stop giving away $20 million of our tax dollars to a private developer for the Jubilo Village project. Remove the $16 million Jubilo Village expenditure from our city budget on June 9.
Our city is already running a $14.8 million budget deficit and spending $16 million each year on current homelessness services — yet your Council Majority plans to drain nearly one-third of our emergency savings on this private housing project.
Emergency reserves are our safety net. These funds protect Culver City from disasters like earthquakes, wildfires, or economic downturns. They also help pay for urgent infrastructure repairs and maintenance — including roads, sidewalks, water and sewer systems, and public buildings. Draining nearly one-third of these reserves puts our city’s safety, services, and basic infrastructure at risk.
At the same time, your body has officially declared a FISCAL EMERGENCY and is planning to add a quarter-cent ($0.25) sales tax hike.
How can we trust you to spend new tax revenue wisely when the city’s own Chief Financial Officer warns this $20 million Jubilo “loan” is unlikely to ever be repaid?
This project offers:
- No public ownership
- No repayment guarantees
- No priority or preference for Culver City residents or workers to live there
The more money the City invests in this project, the greater the possibility that the City will have to pay out even more to protect its earlier investments. In other words, the City will be on the hook for project budget shortfalls — just to protect its own money.
Most cities invest $2–4 million in affordable housing projects, with a maximum of $8 million. This $20 million giveaway is fiscally reckless and shows a lack of financial responsibility.
We demand:
- Remove the $16 million Jubilo Village funding from the budget
- Protect Culver City’s emergency reserves
- Stop reckless spending and restore fiscal accountability