Last week I attended ULI’s brownbag lunch on “Market Outlook Implications for Cities and Redevelopment Agencies,” moderated by Bob Gardner of RCLCO.

Representatives from the CRA in Los Angeles put on their best game face and talked up the $180 million in committed funds that are still on the table (despite the contested money grab by Schwarzenegger), while a city employee from Lancaster admitted that the downturn is “an opportunity to update the city’s general plan.”

There was much discussion about what the “new normal” would look like once the current market has bottomed out and self-corrected. One of the most interesting remarks came from Ellen Michiel of RBF who predicted that immigrants would lead the way in economic growth, via an explosion in small businesses, entrepreneurship…and that mainstream financial institutions would do well to support this burgeoning demographic group through increased micro-lending.

While gourmet food trucks have already hit the streets of Los Angeles with a vengeance, enabling every aspiring chef to build a culinary presence without the overhead cost of a fancy sitdown restaurant, yesterday I noticed a truck parked at the intersection of Rose and Speedway in Venice, selling what appeared to be fresh fruits and vegetables, farmers market-style.

It appeared to be catering not only to tourists on the Boardwalk, but also local residents, for whom the nearby retail options are either quite expensive (One Life, Whole Foods) or frankly dismal (Ralphs on Lincoln Boulevard).

With all of the heated debate around childhood obesity and the lack of access to fresh produce in underserved neighborhoods, the expansion of this distribution concept — the taco truck as fresh food source — could be a great idea for inner-city neighborhoods.