Great news! On Friday, February 25, the Los Angeles City Council allocated $1M in Measure R Local Return funds to the Downtown Los Angeles Streetcar project. Coupled with CRA/LA funding, this decision will take the project through environmental and engineering phases and position the project to secure future federal funds. A full press release issued by Councilmember Jose Huizar can be found here.
Archive for February, 2011
$1M Allocated to the Streetcar Project
February 28th, 2011Downtown L.A. Streetcar Economic Study Released
February 8th, 2011The Downtown L.A. Streetcar Project is pleased to announce the findings of an economic impact study conducted by AECOM. A full copy of the report report is available here.
Major Findings
After accounting for expected baseline growth, AECOM found that the Downtown L.A. Streetcar system will directly support $1.1 billion in new development, 9,300 new jobs, $24.5 million in new annual consumer spending, and $47 million in new city revenue. These values are all additive above and beyond expected growth rates.
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