GETTING THERE FROM HERE - In less than 24 hours Mayor Villaraigosa’s “30-10 Plan” for the Measure R transit program finds big success both locally and in Washington, DC.
Wednesday night the Senate-House Conference Committee on the Federal Transportation Bill reauthorization gave their agreement to a 2 year bill that keeps federal transportation spending at their current levels and includes a dramatically expanded TIFIA loan program which is a lynchpin to LA Mayor Antonio Villaraigosa’s plan for accelerating the development of Los Angeles County’s rail transit program, approved by voters in Measure R in 2008.
On Thursday, the LA Metro Board of Directors voted 10-3 to place a proposed 30-year extension of Measure R ½ cent sales tax on the November, 2012 ballot.
If approved by more than 2/3 of Los Angeles County voters, and polling suggests it would be, this extended revenue stream, together with the federal TIFIA program enhancement, could enable Metro to borrow funds at historically low interest rates and build the full Measure R 12-project transit program in 10 years rather than 30 years.
(The Measure R highway program could also be accelerated.)
By accelerating these projects Metro would also accelerate the nearly 400,000 jobs tied to the program, accelerate traffic congestion relief and air pollution relief, and reduce project costs significantly by avoiding 20 years of inflation.
Such an accelerated program of transit development is reputed to be the first of its kind in our nation’s history. It would come close to restoring the extensive rail transit system that Los Angeles County once had prior to being torn up when the era of exclusive reliance on the automobile began.
Measure R was originally approved by 67.8% of LA County voters in November, 2008, just after the September collapse of the nation’s financial system. A 30-year revenue stream, it is expected to generate more than $36 billion in transportation funds, nearly 70% of which will be spent on transit capital and operating needs.
The 12-project transit program includes light rail system enhancements, some new some extended, expanded Bus Rapid Transit in the San Fernando Valley, and the Westside Subway from Wilshire & Western to the Veterans Administration facility just west of the 405.
25% of Measure R funds were devoted to operating funds for transit to help keep Metro fares low, already among the lowest in the nation for a major metropolitan system.
(Denny Zane is Executive Director at Move LA.) [[]]
-cw
Tags: Mayor Villaraigosa, Rapid Transit, Measure R, Transportation Bill, Metro, Metro Board, Los Angeles County, subway to the sea, 30-10 plan
CityWatch
Vol 10 Issue 52
Pub: June 29, 2012