Build America Bonds for transportation (National Journal)
The latest installment of the National Journal’s “Expert Blogs” asks a panel of Washington insiders whether they think the Build America Bonds program should be revived for transportation investments, as has been proposed by Sen. Ron Wyden (D-Ore.). The program, which expired last year, was started by the Obama Administration to help localities pay for building critical infrastructure. In the past, Metro took advantage of the program to raise over $500 million, and an extended B.A.B. program could help finance parts of 30/10.
Several studies have already pointed out that L.A. has some of the worst traffic, but this one — from a firm that offers traffic navigation services — ranks some of the most congested freeways in the nation. Perhaps unsurprisingly, parts of the 405, 10, and 5 freeways are all in the top 10. If there’s good news it’s this — Metro is involved in road or transit projects on all these corridors. Steve will post about that a little later this morning.
The first blue ribbon committee on the proposed downtown L.A. stadium convened yesterday with traffic on the mind. One of the advantages of the downtown location is the high density of transit service in the area. But officials want to know that would-be stadium builder AEG is going to have a good plan in place for handling large crowds. At the hearing, Fixing Angelenos Stuck in Traffic executive director Hilary Norton posited that you just need to get someone to try transit once and they’ll appreciate the benefits.