The Downtown Los Angeles Streetcar, a signature project for 14th District Councilmember Jose Huizar and the Bringing Back Broadway initiative, took a step forward with the unanimous approval today of a new report by the Los Angeles City Council. This action allows the City to begin formal discussions with Metro, which has earmarked $200 million for the project through the transportation sales tax imposed passed through Measure M.
The City of Los Angeles will explore ways in which Metro can release funds for the street car as soon as possible, as Measure M is currently not scheduled to fund construction until the 2050s. The project team is also exploring a grant from the Federal government's small starts program, as well as a potential public-private partnership to fund the project incrementally.
Cost estimates for the 3.8-mile streetcar loop have consistently ranged between $278 and $290 million. The project already has $390 million in dedicated local funding for both contruction and operations through a variety of sources.
This milestone comes as Bringing Back Broadway approaches its 10th anniversary in January 2018. Recent years have seen an influx in new businesses to corridor, with hot spots concentrated around the Ace Hotel and Grand Central Market.
- LA Streetcar Archive (Urbanize LA)