The whole ritzy look and allure of Beverly Hills, has lately been under a microscope, especially with the 2 big development projects with Hilton and Robinson's May being the center of attention. Both projects are now having their own share of set backs, one got beat in the polls by a very slim margin and the other is trying to find an alternative to its financing.
But what is important is that the city has lost 2 huge revenue streams that would have given a fresh supply of oxygen to a already burdened budget. Now the Beverly Hills needs to come up with funds from elsewhere to keep up all the city services, education and development programs it is so well known for. There is a certain age group and income group that lives in Beverly Hills, that does not have the financial means or accepted norm of being rich as the city is so well known for. And any decrease in services or increase in fees will effect this population very negatively. With one of the worst economic crisis at the door and sales down at top vendors and ailing income from tourism, the sales tac dependent income stream wont be as glamorous as it has historically been.
So what will Beverly Hills do? I will look into that and on my James Engel or james90210 blog will try to see what is being done by the city to bring financial order back into, one of the smallest but richest blocks of city in the US
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There is a twist to this story, the ballots have just been counted and believe it or not the results have chaged. Will need to rewrite this blog once the results are made official
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