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Streetcar Funding

COST ESTIMATE

Cost estimates are being refined as engineering proceeds. Current estimates project the budget at $150–160 million, excluding utility relocation costs, since those specific costs are not yet known.

The capital costs of the Streetcar (i.e. design, engineering and construction) will be funded by a combination of federal and local dollars. $10 million from CRA/LA and $1 million from City of Los Angeles Measure R Local Return is approved and allocated. A Community Facilities District was approved by voters in Dec. 2012 to generate $62.5 million for streetcar construction through a special tax on private property within a few blocks of the streetcar line. City Council has approved a 30-year operational plan estimated at $294 million. The remainder of construction funding will be sought from state and federal grants, the FTA Small Starts program and a possible public-private partnership known as a DBOFM, to Design, Build, Operate, Finance and Maintain the streetcar.

 

STREETCAR COMMUNITY FACILITIES DISTRICT

The CFD will raise $62.5 million in capital funds for construction of the Streetcar. As is the case with any bond, administration, issuance costs and other fees are part of the bond total in addition to the actual capital being raised. The maximum "not to exceed" amount set for the streetcar CFD is $85M. Based on this maximum amount, the majority of residential units included in the CFD will pay less than $100 a year, with the median rate for a 1,000 square foot unit coming in at roughly $60 a year. Click here for a map of the Streetcar CFD.

 

OPERATION

Operation costs will be covered by fare revenues and local government sources.












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