City To Raise Olvera Rents?

Dios Mio! Get ready to pay more for your pinatas. The city is looking for a way to increase rents for the merchants and restaurants on Olvera Street, which is currently running about a $1 million per year deficit to break even. With rents way below market (many below $1 per square foot), the city is investigating ways to raise rents to cover the budget shortfall for El Pueblo de Los Angeles Historical Monument in order to turn it into a self-sufficient department. Downtown News also provides this handy chart showing which merchants are paying the lowest rent. [Downtown News]