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Saturday, Nov 2, 2024

Metro Board Approves $120 Billion Plan

The board of Los Angeles County Metropolitan Transportation Authority on Thursday approved a plan for a new transit tax that would bring in more than $120 billion for projects, including several in the Valley. Metro released a draft copy of the plan a week ago. Now that that board has approved it, a two-month comment period begins on the plan, which lists 88 projects over a 40-year period. As reported earlier by the Business Journal, the plan includes funding for building a light rail line along Van Nuys Boulevard, improving the Orange Line busway and connecting the Valley to the Westside with a tunnel through the Sepulveda Pass. The plan has the support of the Valley Industry & Commerce Association and San Fernando Valley Council of Governments. The projects would be funded by Measure R, a half-cent sales tax dedicated for transportation projects that will appear on ballots in November for voter approval. The first public hearing for comments on the plan is scheduled for April 5 in Agoura Hills.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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