Panel, Fireside Chat
Rising Strong: Los Angeles' Path to Recovery | Global Conference 2025
Milken InstituteMichelle Stevenson, Elex Michaelson, Karen Bass, Lindsey Horvath, Cinny Kennard, Evan Spiegel
- The Milken Institute plans to launch a financial innovations lab to design funding models aligning investors, real estate, and insurers to reward resilient housing, while seeking to partner with cross-sector entities to aid Los Angeles recovery.
- The Los Angeles Mayor anticipates using artificial intelligence within the next couple of months to expedite permitting, with potential long-term application for general city building if emergency trials succeed, and expects 37 properties to have permits with 1,300 cleared for submission.
- A new regional entity is expected to purchase materials at scale to facilitate rapid rebuilding in areas such as Sunset Mesa, while a publicly accessible dashboard tracking permits is planned for future publication.
- Supervisor Kennard expects a new Blue Ribbon Commission recommendation to benefit the entire region, with short-term resilient best practices and infrastructure requirements implemented soon, potentially alongside state legislation to protect generational wealth in historically Black communities via grandfathering clauses.
- Financial expectations include a $39 billion federal resource request deemed essential beyond philanthropy, with hopes that the Trump administration continues a 100% FEMA reimbursement policy to maintain cleanup pace, and that a state lobbyist leverages Washington relationships to secure supplemental funds due in mid-June.
- Specific funding distributions are anticipated soon, including a next tranche of approximately $25 million within a week for basic needs, while final funds are earmarked for soil, air, and water testing partnerships with USC, UCLA, and the Kane Foundation.
- Community infrastructure plans involve funding and partnering with 12 groups across Altadena, the Palisades, and Malibu to establish block captain support for a period of potentially 10 years or more.
- Infrastructure timelines predict Loma Alta Park reopening on May 17th, Pacific Coast Highway partially reopening at month-end with full access dependent on utility undergrounding, and the Metro serving Malibu reopening to provide alternatives.
- Safety and environmental predictions highlight that without increased investment in prevention, climate change may lead to more frequent catastrophes, necessitating a re-evaluation of the firefighting-to-prevention spending ratio.
- Risk factors include the potential for backfired outcomes if regulatory cuts ignore insurance accountability, while the short-term nature of some community recovery needs contrasts with long-term rebuilding strategies.
- Transitional support includes a beach bus serving as a critical lifeline for Topanga while highway closures persist, alongside expectations for residents to mobilize for the World Cup in 14 months and the World Series in October.
- State-level expectations involve potential quick consolidation of water agencies to ensure regional coordination and the possibility of uncertain resource allocation pending a revised budget.