CRA Approves $8.4 Million for Downtown L.A. Streetcar

PRESS RELEASE

For Immediate Release

Contact: Rick Coca

Action completes funding for environmental review and engineering of the project which will generate 9,300 jobs, spur $1.1 billion in development and generate $24.5 million in annual tourism and spending

LOS ANGELES (March 3, 2011) – The Community Redevelopment Agency of the City of Los Angeles (CRA/LA) today obligated $8.4 Million in funding for the Downtown L.A. Streetcar, a public-private partnership project championed by City Councilmember José Huizar’s Bringing Back Broadway initiative and non-profit, L.A. Streetcar Inc. Previous CRA/LA actions obligated $1.6 Million of the $10 Million pledged by the agency for the project.

The $8.4 Million CRA/LA action comes on the heels of Los Angeles City Council’s action last week to allocate $1 Million to the project from Measure R Local Return. The combined actions will provide remaining funding necessary to complete state and federal environmental documentation underway at METRO, as well as complete conceptual, preliminary and final engineering and design for the streetcar.

“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,” said City Councilmember José Huizar. “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.”

Today’s actions will also allow CRA/LA to contract with L.A. Streetcar Inc. 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. Private sector funding is the last piece of the puzzle before federal funding can be sought. A blend of private and public funds is necessary to achieve full funding for construction of the streetcar project.

The Downtown L.A. streetcar will run 7-days a week, about 18-hours a day, serving areas including Bunker Hill, Grand Avenue and the Music Center, Historic Broadway and the Historic Core, South Park, L.A. LIVE and the Los Angeles Convention Center.

The AECOM Streetcar Economic Impact Study, executive summary, fact sheets, background materials, informational videos, B-roll, streetcar renderings and related materials for review and reference can be accessed at: http://www.golastreetcar.org/press.

Council Approves Huizar Motion for $1 Million Allocation to Streetcar

RELEASE

Contact: Rick Coca
(213) 473-7014 or Rick.Coca@lacity.org

Measure R Local Return funding will assist Downtown L.A. Streetcar with environmental review and engineering -- Council action comes as recent report states streetcar will generate 9,300 jobs, spur $1.1 billion in development and generate $24.5 million in annual tourism and spending

LOS ANGELES (Feb. 25, 2011) – The Downtown L.A. Streetcar, a public-private partnership project championed by City Councilmember José Huizar’s Bringing Back Broadway initiative and a non-profit L.A. Streetcar Inc., won unanimous City Council support today for a $1 million allocation of the City’s Measure R Local Return funding to assist the project through its environmental and engineering phases.

The Downtown L.A. streetcar will run 7-days a week, about 18-hours a day, serving areas including Bunker Hill, Grand Avenue and the Music Center, Historic Broadway and the Historic Core, South Park, L.A. LIVE and the Los Angeles Convention Center.

Today’s funding allocation, combined with funding from the Community Redevelopment Agency of Los Angeles (CRA/LA), will take the project through its environmental and engineering phases, as well as its application for federal Small Starts funding, completing the last public sector steps necessary before construction, which could commence as early as 2014.

“At a time when the City is undergoing one of the worst economic times in its history, when the unemployment rate is far too high, and industries in our city and everywhere else are struggling, a modern, environmentally friendly streetcar will help create a better connected, pedestrian-oriented downtown, bringing jobs, economic development and revitalization all around the route,” said Councilmember José Huizar. “A more efficiently run and successful downtown is good for our entire City and the streetcar will help get us there.”

Measure R was adopted by voters to help transportation projects proceed that are needed in our City, but which would otherwise not be easily funded.

CRA was an early supporter of the streetcar movement, putting forward the first $10 million to get the project going. About $1.6 million has already been allocated by CRA/LA as the project has progressed the past few years. CRA actions to obligate the remaining $8.4 million pledged to the project are to be taken up by the CRA Board as early as next month.

Just two weeks ago, business and civic leaders, city officials, labor unions and transit advocates joined Councilmember José Huizar to announce the release of a study by AECOM which indicates a modern streetcar system in downtown Los Angeles will not only provide critically needed transportation circulation but will also be a boon to revitalization.

The study finds among other things that an initial $125 million public-private investment in returning the Streetcar Downtown will generate 9,300 new jobs, $1.1 billion in new development, $24.5 million in new annual tourism and consumer spending, and $47 million in new city revenue – all above projections for Downtown’s future without a streetcar.

A feasibility study for the streetcar project was completed in 2006 and the project is included in METRO’s Long Range Transportation Plan. Similar to the funding model used in other modern streetcar cities, the Downtown L.A. Streetcar project will be funded with both public and private funds. Public sources include Measure R Local Return, CRA/LA, federal appropriations.

Federal funding for construction will be sought through the federal Small Starts program. An equal portion of private sector contributions are planned to be raised through a Community Facilities District, a special tax of parcels which will benefit from the streetcar project, which will be voted on by registered voters in the streetcar area next year.

The full AECOM Streetcar Economic Impact Study, executive summary, fact sheets, background materials, informational videos, B-roll, streetcar renderings and related materials for review and reference can be accessed at:

http://www.golastreetcar.org/press

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Councilmember Huizar Helps Bring Measure R Funds and Boyle Hotel Renovation to Boyle Heights

I joined with artists and Metro CEO Art Leahy at the Corazon Del Pueblo Art Space in the burgeoning Boyle Heights Arts District last week to announce the kick off the $12 million component of the Eastside Access Project. This voter-approved Measure R plan will bring sidewalk, streetscape, lighting, signage and art improvements along First Street in Boyle Heights.

Part of the larger $30 million Eastside Access Project will focus on multi-modal transit-related improvements at or near the Metro Eastside Gold Line Extension.The Boyle Heights component is expected to enhance the grassroots driven Boyle Heights Arts District along First Street, which I actively support and am working on steering other façade improvement and artist-uses funds to the area.

Today, I joined The East Los Angeles Community Corporation at a groundbreaking for a $24.6 million facelift to the historic Boyle Hotel-Cummings Block, which was built in 1889. The hotel is located on First Street, across the street from the Metro Gold Line Mariachi Plaza station and along the Arts District route. The historic building fell into disrepair and eventually became home to mariachis and other residents. The renovated building includes a completely new building west of the hotel and a total of 51 quality affordable housing units. There will be 4,100 square feet of commercial space, rehearsal and recording space for Mariachis and a Mariachi center.

Boyle Heights is undergoing unprecedented public investment. By 2009, Boyle Heights saw $1.4 billion in public improvements, including the Metro Gold Line Eastside Extension, four new schools, a new police station, as well as several park and pool upgrades.

Enjoy the slideshow, podcast and footage (Arts Corridor, Boyle Hotel) from the events