Los Angeles Mayor Antonio Villaraigosa plans an ambitious economic development agenda reminiscent of former Mayor Richard Riordan’s initiatives after the 1992 Rodney King riots.

Villaraigosa, who has brought in former Community Redevelopment Agency head Bud Ovrom to lead a restructured business team, is seeking to fast-track scores of major projects throughout the city.

The mayor’s business team will also try to lure major companies to L.A. and keep firms here from leaving, as well as attract major biotech research dollars. “My emphasis will be on creating quality, well-paying jobs by focusing on targeted growth industries,” said Villaraigosa in an e-mail.

The most sweeping initiative involves identifying 75 to 100 development projects of 100,000 square feet or larger and getting them completed rapidly. Among the likely candidates: Valley Plaza in North Hollywood, Marlton Square in South L.A., the old Sears warehouse site in Boyle Heights and the L.A. Live project next to Staples Center.

“These are projects that can have a big economic impact. The emphasis is going to be on getting these projects out the door,” said Ovrom, deputy mayor for economic development. “When I took this job, Antonio told me, ‘Bud, I want to see the cranes moving on these projects.’”

The agenda has raised expectations among development advocates – perhaps to unrealistic levels. But it is seen as a welcome shift from Villaraigosa’s predecessor, James Hahn, who pursued a modest economic development strategy and often left the heavy lifting to others.

“I understand the risk of over-promising, but mayors should be visionary and describe the big idea. They should set the bar high on expectations,” said Chris Martin, chairman of the Los Angeles Area Chamber of Commerce.

Villaraigosa’s agenda hearkens back to the days when Riordan was mayor, cutting deals with developers and trying to prevent businesses from leaving the city. “This is a hands-on, transactional approach out of the mayor’s office, one that’s been missing for the last few years,” said consultant Larry Kosmont.

‘Hound these projects’
The big test will be in execution. Financing challenges, bureaucratic roadblocks and residential opposition all have stymied previous plans for sites such as Valley Plaza and Marlton Square.

A much promoted public-private partnership under Riordan called Genesis L.A. made little progress on a list of 21 high-priority sites in the late 1990s, and had to broaden its mission to invest in other urban redevelopment work.

Ovrom said he wants to “hound these projects on a daily basis, to break the logjams that have stalled them.” He described setting up a “war-room” in the mayor’s economic development office on the 13th floor of City Hall, where officials would track the progress of each of the projects on giant maps.

To help in this effort, Ovrom said personnel will be added to the business team, and an economic development cabinet of at least six city department heads will be created.

The first business team was launched 12 years ago under Riordan as a way of drawing back development to the city’s urban core after the riots. Under the leadership of Rocky Delgadillo – now city attorney – it had some success in cutting deals with companies and clearing roadblocks for business expansions and relocations.