A $1.8 million city budget originally allocated to Koreatown but reallocated in 2023 has now been returned to fund a delayed public park project.
On March 26, Hugo Soto-Martinez, Los Angeles City Councilmember for District 13, proposed restoring $1.62 million in city funds previously moved from Koreatown to his district in November 2023. Including interest, the total to be returned is $1,799,838, earmarked for the Pio Pico-Koreatown Library Park Project. The motion was seconded by Heather Hutt, Councilmember for District 10, and formally adopted by the City Council’s Economic and Community Development Committee.
Funds diverted after planning delays
In 2023, the $1.62 million was initially assigned to District 10 for Koreatown redevelopment. However, due to the lack of a finalized project plan, the budget was diverted to fund beautification efforts in District 13 neighborhoods such as Silver Lake and Echo Park.
The project intended to use those funds—called the Neighborhood Enhancement Network (NEN)—was later deemed infeasible, prompting the return of the funds to Koreatown.
Inflation increases project cost
The Pio Pico Library Park Project was originally approved by the City Council in October 2019 with a budget of $7.2 million. However, due to pandemic-related delays, the groundbreaking did not take place until August 2024. Rising construction costs have since pushed total projected expenses to $11.5 million, raising concerns over budget shortfalls.
With the restored funds, the project now has a total of $8.9 million secured.
Officials emphasize community impact
Soto-Martinez highlighted the park’s cultural significance. “The Pio Pico Library Park Project serves more than 40,000 residents and visitors in Koreatown,” he said. “We hope this funding will ensure the project’s successful completion.”
Heather Hutt’s office stated it would work to fully utilize the restored funds to complete the park as planned.
Community calls for accountability
Robert An, President of the Korean American Federation of Los Angeles, welcomed the return. “We’re still short of the total needed, but getting part of the budget back helps,” he said. “We hope this brings the vision of a quality park space closer to reality.”
Some community leaders noted that tighter oversight is needed to ensure Koreatown’s allocated funds are not diverted again in the future.
BY BRIAN CHOI [ichoi@koreadaily.com]
