Los Angeles Mayor Eric Garcetti unveiled his $10.6 billion spending plan that he says will strengthen the city’s finances and include record spending to end homelessness and improve local infrastructure.

“Through a sound budget, we achieve a strong bottom line and strengthen Los Angeles from the bottom up,” Garcetti said. “This proposed budget is a blueprint illustrating how we’ll achieve our highest ambitions – from ending homelessness to improving our infrastructure – while maintaining a commitment to fiscal responsibility that has helped to drive Los Angeles’ economic recovery.”

Garcetti’s proposed budget includes reserves that exceed 8% for the first time since the recession, and a reserve fund that is increased to $399 million, with a budget stabilization fund of $110.9 million and an unappropriated balance of $20 million.

The proposed budget calls for a record $940 million to improve and update the city’s infrastructure – $140 million more than the previous year. Also included is $348 million for street repairs and maintenance, and $117 million for Vision Zero and traffic and pedestrian safety projects. It allocates funding to advance the mayor’s sustainability goals with $38 million in Measure W funds going toward clean water infrastructure, and $3 million for the city’s innovative Cool Pavement Program and investments in tree planting.

The proposed budget includes the city’s largest-ever investment to end the homelessness crisis, with $457 million in permanent housing, temporary shelter, services and facilities to help homeless Angelenos find their way off the streets. The budget anticipates spending $36 million in Homeless Emergency Aid Program funds that Garcetti advocated for, and received, from the state last year. As part of funding from the Proposition HHH initiative, $281 million will go toward 27 new permanent supportive housing and affordable housing projects providing more than 2,126 units.

Garcetti’s proposed budget also calls for increasing police overtime by approximately 40% to cover all critical duties, spending $3 million to help improve dispatch reliability and effective communications for public safety officers, and expanding the advanced provider response units and fast response vehicles to more efficiently dispatch fire resources and emergency medical services.

For information, visit lamayor.org.