MayoralLetterAFFBonds4-30-13

The America Fast Forward initiative got a nice boost last week when the U.S. Conference of Mayors issued a letter (above) to Congress supporting Metro’s attempt to create a new class of bonds that could be used to accelerate transportation projects across the country, including Metro’s Measure R highway and transit projects. From Metro’s government relations staff:

A letter sent by well over 100 Mayors from across the United States is encouraging the United States Congress to back our agency’s America Fast Forward Transportation Bond initiative.

America Fast Forward Transportation Bonds represent a new class of qualified tax credit bonds that would, if enacted into federal law, significantly increase transportation infrastructure investments across the nation.

The correspondence was spearheaded by the Immediate Past President of the United States Conference of Mayors, Los Angeles Mayor and Metro Director Antonio Villaraigosa.

The letter secured strong bi-partisan support, including from Scott Smith, the Vice-President of the Conference of Mayors.  Mayor Smith is a Republican who is currently the mayor of Mesa, Arizona.

Please find here a copy of the United States Conference of Mayors letter to Congressional leaders in support of America Fast Forward Transportation Bonds.  For your review, please also find here a brochure that includes details on our innovative transportation bond initiative and an illustration on how the America Fast Forward Transportation Bond process would work.

Here’s a helpful pamphlet from Metro explaining how the bonds would work. Congress last year approved another part of the America Fast Forward initiative that expanded a program that offers federal backing of low-interest loans. The bond program is the other equally important part of America Fast Forward.

AFF Bonds Single Page