Tight-fisted

The economy may be improving and more Californians may be able to afford to buy a home, but now there's a new wrinkle -- the lenders are hanging on to their money.

From the LAT's Scott Reckard: "Nearly half of all California households can now afford the median-priced home in the state — but that's no help if they can't get mortgages."

"Six years after the subprime mortgage meltdown, banks remain tight-fisted, even with solid borrowers — a fact they attribute to shifts in government regulation and demands that they buy back bad loans. Mortgage credit has not eased much since 2007, according to Federal Reserve surveys of loan officers, even while low rates and the housing recovery have borrowers lined up seeking financing."

"First-time buyers and the self-employed must jump through especially complex hoops. Even gold-plated applicants must justify the smallest quirks in their finances in excruciating detail. And processing applications can take months."

Parcel taxes -- local levies that raise money for everything from fire fighting to schools  -- are getting a close look in Sacramento, where lawmakers are considering lowering the two-thirds-vote threshold for approval.

From Capitol Weekly's John Howard: "But their size, scope and purpose vary dramatically. And despite the intense emotions they enflame locally, parcel taxes have rarely hit the Capitol's radar -- until now."

"The change stems from the efforts of some school districts to raise money through "split" parcel taxes. Critics contend the move would spell the beginning of the end of Proposition 13, the voter-approved initiative of 1978 that cut property taxes across the state by 57 percent and limited new increases. Proposition 13 foes say it's about time."

"Under Proposition 13, parcel taxes are flat or uniform -- the same amount levied regardless of the size or function of the property -- and require a two-thirds vote, as do special taxes and general obligation bonds. Efforts to alter that calculation now are under way, fueled by a December appeals court ruling that blocked split parcel taxes pushed by Alameda schools. The issue is heading to the state Supreme Court and the ultimate decision likely will affect virtually all local taxing entities across California."

Speaking of money, the Los Angeles Superior Court system is short of it and intends to close its 20-year-old program that allows litigants to get together outside the courtroom and settle their differences.  The fancy name is Alternative Dispute Resolution.

From the LA Daily News' Monica Rodriguez: "The Los Angeles County Superior Court department that helps resolve cases before they reach a courtroom will shutter by June 28.

Alternative Dispute Resolution Services, which has existed for more than 20 years and is the largest of its kind in the United States, will shut down."

"The closure is one of several steps that the Superior Court is taking to save between $55 million and $85 million in the 2013-14 fiscal year, said Mary Hearn, spokeswoman for the Los Angeles Superior Court. Superior Court officials in November announced a plan to close all courtrooms in 10 community courthouses."

"But the closure of the department, which was announced Thursday, will just add to a congested court system, said Richard J. Burdge, president of the Los Angeles County Bar Association."

Some $1.7 milllion, perhaps more, in state funds that was supposed to be used to buy land for habitat protection was used instead for a variety of other uses, including the purchase of gift cards. The state says there's no indication that the money was spent for personal gain, however.

From the Press-Enterprise's Jim Miller: "In December, the Bureau of State Audits reported that workers at the San Jacinto area used thousands of dollars’ worth of lease payments from a farmer to cover the wildlife area’s routine operating expenses and to buy gift cards."

"A subsequent statewide review by the fish and wildlife department has identified an estimated $1.7 million in similarly mishandled lease money statewide."

|Instead of going to a special state fund to pay for open-space purchases, the money has paid for gift cards, operations and maintenance, or to contract with outside companies to oversee the lease agreements -- with the remaining lease money staying with the wildlife area."

Los Angeles, which has hosted the Olympics twice before wants to do it again in 2024, says Mayor Antonio Villaraigosa.

From the OC Register's Scott M. Reid: "Los Angeles Mayor Antonio Villaraigosa has formally notified the U.S. Olympic Committee of the city's interest in being a candidate for the 2024 Olympic and Paralympic Games."

"The USOC is weighing whether to bid for the 2024 Games after sitting out a bid process for the 2020 Games that took place against the backdrop of a bitter seven-year dispute between the USOC and the International Olympic Committee over the distribution of U.S. television and sponsorship revenues..."