The Los Angeles City Council initiated the escheatment process for idle funds from the inactive Panorama City Business Improvement District (BID), specifically from Account 51D. These funds, once legally escheated, are designated for transfer to the Los Angeles Department of Transportation (LADOT). The purpose of this transfer is to implement crucial traffic calming and safety measures on Lanark Street in Panorama City, a neighborhood corridor identified with persistent traffic safety issues due to excessive speeding and reckless driving. Planned improvements include the installation of speed humps, curb extensions, signage, and other pedestrian enhancements. LADOT will collaborate with Council District 6 and local community stakeholders to develop and execute a detailed plan for these safety upgrades.