As many of you know, there have been discussions underway to extend the Measure R half-cent sales tax past its expiration date of July 1, 2039, to accelerate transit and highway projects that are funded in part by Measure R.
Los Angeles Mayor and Metro Board Chair Antonio Villaraigosa proposed such an extension in his State of the City speech last month. But the Metro Board of Directors hasn’t taken any action yet; their approval plus state legislation is needed to send the issue to Los Angeles County voters.
With a big election approaching in November, Metro staff have issued the following report on Measure R and are asking the Board to adopt a set of principles that, in essence, amounts to an agreement that Measure R should be extended. Staff are not asking the Board this month to decide whether to put the issue on the ballot. That is expected to happen in June.
The report discusses the financing options that a Measure R extension would make possible. The gist of it: a Measure R extension plus an expanded federal loan program known as TIFIA would make it possible to build the 12 Measure R transit projects in the next decade or so — instead of waiting until 2039. TIFIA loans could also add $3.7 billion in funding to the Measure R highway program, which is needed because many of the projects are only partially funded by Measure R.
The full staff report is below and here is the pdf version of the report. The staff report is scheduled to be discussed by the Board’s Executive Management committee on Thursday at 9 a.m. at Metro headquarters. If you can’t attend, the meeting can be heard over the phone by calling 213-922-6045.
Categories: Measure R, Policy & Funding, Projects