LA streetcar plan advances
Written by William C. Vantuono, Editor-in-ChiefLos Angeles’ City Council Wednesday unanimously approved $8.5 million in funding to implement a Downtown streetcar service. The city hopes to cooperate in a public/private venture designed to bolster economic activity.
City Councilman Jose Huizar, who has championed the return of streetcars to the City of Angels, said in a press release approval of the funds by the city and the Community Redevelopment Agency of the City of Los Angeles (CRA/LA) follows an earlier commitment of $1.6 million of the $10 million total pledged by the agency for the project.
The City Council already has allocated $1 million for the project from Measure R Local Return funds. “The CRA and City actions will get us through the technical steps necessary to make us ready for shovels to build the Downtown L.A. Streetcar,” Huizar said. “Thousands of jobs, millions in annual tourism and revenue, and an additional billion dollars in development will be a tremendous driver of revitalization that will positively affect our entire city and region.”
CRA/LA may now contract with L.A. Streetcar Inc., a non-profit advocacy organization, for the establishment of a Community Facilities District, which will allow local registered voters the opportunity to approve a property assessment in order to raise private-sector funding.
The proposed four-mile streetcar route would link Bunker Hill, historic downtown, theatre district, financial district, jewelry district, and South Park neighborhoods, including the Los Angeles Convention Center.
