Here’s the news release from Metro:
Metro will hold a public hearing on its proposed Fiscal Year 2016 budget (FY16) on Wednesday, May 20 to receive public input on a proposed $5.56 billion budget. The hearing will be held as part of the Board’s Finance and Budget Committee starting at 1 p.m. at Metro’s headquarters building located at One Gateway Plaza, 3rd Floor Board Room, in downtown Los Angeles.
Metro is proposing a balanced budget for FY 16 which begins on July 1, 2015 and runs through June 30, 2016. In FY 16, five major rail lines are in construction, with the Expo Line extension to Santa Monica and the Gold Line Foothill Phase 2A extension to Azusa opening before the summer of 2016. The full Board will consider adoption of the FY 16 budget at their regular meeting on Thursday, May 28.
The proposed budget calls for no fare changes or major service changes. Projects under planning/engineering in FY 16 include the East San Fernando Valley Transit Corridor, the Airport Metro Connector, the South Bay Metro Green Line Extension, the West Santa Ana Branch and the Gold Line Eastside Extension Phase II. Highway projects include the I-605 Corridor, the I-5 North Capacity Enhancements, the I-710 South and Early Action Projects, the SR 710 North Gap Closure, the SR-138 Capacity Enhancements, the High Desert Corridor, Arroyo Verdugo Operational Improvements, the South Bay Ramp & Interchange Operational Improvements and Countywide Soundwall Projects.
FY 16 Budget highlights include $1.5 billion for maintaining the current level of service, $2.1 billion for various capital projects which include major construction activity for the Regional Connector Project, the Crenshaw/LAX line and the Westside Extension of the Purple Line subway, and $1.4 billion is subsidy funding going back to transit operators and the 88 cities and unincorporated areas of Los Angeles County.
The public is encouraged to attend the upcoming public hearing on May 20 and provide their input on the proposed FY 16 budget.
The public can access the proposed budget under consideration at metro.net at: //media.metro.net/about_us/finance/images/Proposed_FY2016_Budget.pdf
Categories: Policy & Funding