LOS ANGELES (CBSLA.com) — The city of Los Angeles is ready to sacrifice revenue in order to keep Hollywood at home.

KNX 1070’s Ed Mertz reports the City Council has voted to waive all fees for anyone who wants to film a television pilot production in the city.

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The council voted 11-0 in favor of the ordinance, which was first introduced by Councilman and current mayoral candidate Eric Garcetti last year to stem mounting losses from runaway TV and film productions whose producers have taken their crews to Canada and other locations to save costs,

If signed by Mayor Antonio Villaraigosa, all city fees for TV pilots and first-year series with substantial production occurring in Los Angeles would be waived. The waiver would only apply to first-year series if the production was expected to go into a second year.

FilmL.A. chairman Leron Gubler said the region loses hundreds of jobs and millions of dollars when producers take their shows elsewhere – and keep them there.

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“That is a very disturbing occurrence, because oftentimes where the pilots are shot determine where the production is later filmed,” said Gubler.

A report from City Chief Adminstrative Officer Miguel Santana estimated waiving the fees could cost the city $230,000 a year in revenues, while losses related to first-year production waivers could reach “an unknown larger amount.”

Still, Gubler said the gesture means producers will feel welcome in the city.

“It sends a very important psychological message to the industry that the city really wants these pilots shot in Los Angeles,” he said.

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Runaway production has crippled local professional and businesses after just two of 23 new TV dramas premiering last fall were shot in Los Angeles.