Far West

The Los Angeles City Council has decided to walk away from the city's redevelopment agency, saying it would be too costly to take control of.

The California Senate Transportation and Housing Committee on Tuesday unanimously approved SB 447, which would prohibit the California Housing Finance Agency from foreclosing on borrowers who are renting their homes out and are current on their mortgages

The San Diego Chargers announced in a joint statement with San Diego’s mayor on Monday that they would be staying in the city for another season.

California Controller John Chiang said December revenues came in $165 million below the projections in the governor’s proposed fiscal 2013 budget.

Republican lawmakers in California have introduced a bill that would block the state from selling bonds for a planned high-speed rail system.

California’s nonpartisan Legislative Analyst’s Office said in a report Wednesday that revenue estimates are a bigger “question mark” than usual in Gov. Jerry Brown’s proposed fiscal 2013 budget.

SAN FRANCISCO — Washington Gov. Christine Gregoire asked lawmakers Tuesday to put a temporary sales-tax increase measure before voters and pass $3.6 billion of transportation spending.

The Commodity Futures Trading Commission voted 4 to 1 to approve a final rule on business conduct standards for swap dealers designed to protect states and local governments, as well as taxpayers, from fraud in the swaps marketplace.

With the Jan. 31 expiration date of the latest Federal Aviation Administration reauthorization law coming up fast, hopes for a long-awaited multi-year bill are giving way to pessimism as airport lobbyists fear that deep partisan divides and a limited number of congressional work days may wind up producing another short-term measure or FAA shutdown.

SAN FRANCISCO — An eastern Washington public facilities district that defaulted on $42 million of notes last month is scrambling for ways to pay investors.