Tax Credit Extended – Repeat Buyers Eligible

Congress passed the Homebuyer Tax Credit Extension. Here are the main facts that you should know:

* The tax credit has been extended to April 30, 2010.

* Repeat buyers who have owned their homes for at least 5 years are now also eligible for a credit of up to $6,500 from the government.

* If you’re a first-time homebuyer you may be eligible for a credit up to $8,000.

* To qualify, buyers have to sign purchase agreements by April 30, 2010 and have 60 days to close by June 30, 2010.

* The credit is available for the purchase of principal homes costing $800,000 or less.

* The new tax credit has increased income limits.

* Individuals with annual incomes up to $125,000 and up to $250,000 for joint filers are now eligible before the credit begins to phase out.

* The credit is equal to 10 percent of the purchase price of a primary residence.

* Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a payment.

* Taxpayers who want immediate refunds can amend their tax returns for 2008 to claim the credit.

* Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.

* You must be at least 18 year of old to claim the credit.

United Teachers Los Angeles and community spearhead innovative school reform project

LAUSD is now the home to the Belmont Zone of Choice, an innovative pilot school program developed from the ground up by UTLA and a grassroots coalition of teachers and community groups.  The group recently presented at Burbank Middle School in Highland Park.  Click here for more information on this project.

NY Time Touts Highland Park as new LA Cultural District

HIGHLAND PARK in northeast Los Angeles holds many honors: the first town to be annexed by Los Angeles (in 1895), the backdrop for Quentin Tarantino’s “Reservoir Dogs” and a historic trust of Craftsman and Victorian-style homes.

But few would ever confuse Highland Park for a cultural district. Until now. What was once a sleepy strip of garish 99-cent stores and auto parts shops is turning into a thriving neighborhood of cool restaurants and boutiques that draw young trendsetters in skinny jeans, flannel shirts and Converse high tops.

The turnaround started a few years ago, when real estate prices in nearby Silver Lake and Echo Park increased significantly. Priced-out artists, actors and writers were drawn to Highland Park’s walkable streets and its glut of handsome old homes. Not only was it aesthetically appealing, but the area also had parks, hills and a hushed, small-town feel.

Much of the flurry is clustered along a five-block stretch of York Boulevard, the main drag. “It’s an odd mix of artists, young families and traditional Latino culture,” said Matt Schodorf, who recently opened Café de Leche (5000 York Boulevard; 323-551-6828; www.cafedeleche.net), a Latin-style cafe, with his wife, Anya. “The landscape has changed significantly. Now, everything is centered on one street. It’s rare to find a walking culture in L.A.”

A prime example of the area’s youthful do-it-yourself spirit is Orecul77 (5159 York Boulevard; 323-254-2600; www.orecul77.com), a kind of hipster tailor shop where the owner, Tawni Lucero, renovates old dresses into “one-of-a-kind wearable pieces of art.” The funky brightly colored store, which opened last November, charges $55 to $75 for each dress.

Highland Park feels particularly alive at night, when young arrivals gather at places like the York (5018 York Boulevard; 323-255-9675; www.theyorkonyork.com), a stylish gastropub with brick walls and chalkboard menus. On weekends, the L-shaped bar is often five deep with floppy-haired students from Occidental College nearby, local women in short skirts and high heels and artist types from Silver Lake with shaggy beards and trucker hats.

A few doors down is Johnny’s (5006 York Boulevard; 323-551-6959), a dimly lighted bar with a “Cheers”-like vibe and a jukebox that bounces from Iggy and the Stooges to Led Zeppelin. The pool and foosball tables are a major draw, as are the chilled Jägermeister shots ($6). A favorite among York Street business owners, the bar often blurs into unofficial town hall meetings.

“We’re in a city of nearly four million people, but here it feels like a small town,” said Amy O’Connell, an owner of Society of the Spectacle (4563 York Boulevard; 323-255-4300; www.societyspectacle.com), a fashionable eyewear boutique in a converted 1920s bungalow. “I mean, where else in L.A. do people honk as they drive past?”

By JAMIE BRISICK, NY Times Travel Section July 2009