Fund-Raising Pays Off for Sherman

Last year’s frantic campaign schedule has paid off for Democrat Congressman Brad Sherman, who reported Monday raising three times as much cash as his Republican opponent.

But his challenger, Thousand Oaks businessman Randy Hoffman, still has more cash on hand, thanks to a $275,000 loan he made to himself last year when he launched his bid to represent the 24th Congressional District, which stretches from Thousand Oaks to Malibu and Sherman Oaks.

The race is expected to be one of the most expensive and hotly contested campaigns of the year--costing each side up to $1.5 million, according to both candidates.

Sherman, a freshman from Sherman Oaks, reported raising $153,500 between July and December, while Hoffman raised $50,200, according to finance statements released Monday.

Still, when Hoffman’s personal loan is added, he has a campaign coffer of $256,600. Sherman, who had nearly $8,000 left over from the previous reporting period, has $161,200 on hand.

Because Hoffman is a millionaire businessman who is expected to contribute more to his own campaign, Sherman worked hard during the congressional winter break to raise funds.

In the closely watched race for the 20th state Senate seat in the northeast Valley, City Councilman Richard Alarcon raised $35,000 between July and December, while his main opponent, former Assemblyman Richard Katz, raised $33,400, according to the finance statements.

But Katz has the advantage because of a $130,400 transfer from a previous assembly campaign account, leaving him $157,200 on hand at the end of December.

Alarcon’s campaign consultant, Richie Ross, said he hopes to close the gap with Katz by holding a massive dinner in March that he hopes will raise $150,000 in one night.

“It will be a big, classic political fund-raiser,� Ross said.

Fund-raising in this state Senate race was at first limited by Proposition 208, the tough campaign finance law adopted by voters in 1996. But a federal court voided the limits in January, allowing candidates to raise money freely.

Both Katz and Alarcon don’t expect that the proposition will have a major impact on the overall race because most fund-raising will take place in the next few months.

Katz joked that the court ruling will mean he will have to pay his consultants more.

“The good news is they raised the limits, the bad news is that the consultants are going to raise their rates,� he said.

Katz, a former Democratic Party leader who was forced by term limits to leave his Assembly seat in 1996, is now vying to represent much the same northeast San Fernando Valley area that he represented for 16 years in the Assembly.

Alarcon, the first Latino council member from the Valley, is expected to be an aggressive opponent who will try to take advantage of his high-profile position on the City Council.

Alarcon plans to formally declare his candidacy for the state Senate seat this week by submitting the signatures of 3,000 supporters instead of paying a $786 filing fee with the county Registrar Recorder.

The district--which stretches from San Fernando to Studio City to Reseda--is heavily Democratic. The incumbent, Sen. Herschel Rosenthal (D-Los Angeles), is being forced out of office due to term limits.

Running for the GOP nomination for the 20th state Senate race are Republicans Ollie M. McCaulley of Sun Valley, who reported raising $1,100, and Delores Bender White.

A Libertarian, Linda Starr of Valley Village, is also running for the seat. Neither White nor Starr could be reached for comment.

The race for Sherman’s congressional seat is also expected to be hotly contested because the Republican Party has targeted the district in hopes of increasing the GOP’s numbers in Washington.

The district is a “swing� district and Republicans believe Sherman would be vulnerable to the challenge of a strong GOP candidate.

Although Sherman raised more contributions in the July-to-December period, Hoffman said it was because he began in earnest only in November.

“I’m extremely pleased with the money I’ve been able to raise in the last six weeks of the year,� he said.

Hoffman and Sherman combined are expected to spend up to $3 million in the race--surpassing the $2 million that was spent in 1996 when Sherman beat Republican Richard Sybert for the post.

Sherman faces a tough race this time because Hoffman, who runs a San Dimas electronics firm, is expected to continue to contribute heavily from his own pocket to win the seat.

In addition, Sherman still has a $630,000 debt from his previous campaign, most of which he owes to himself and close friends.

Republican William Westmiller is also vying for the post.

In recent months, the race for the Pasadena-based 44th Assembly District has heated up, with Republican challenger Ken LaCorte challenging Democrat incumbent Jack Scott.

LaCorte has $22,900 on hand, including $20,000 he loaned himself, according to his finance statement. Scott has $57,600, including $13,000 he raised between July and December, according to his statement.