Meeting_Body
EXECUTIVE MANAGEMENT COMMITTEE
NOVEMBER 19, 2015
Subject/Action
SUBJECT: BUSINESS INTERRUPTION FUND FOR UNPRECEDENTED DISRUPTION
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
AUTHORIZING the expansion of the Pilot Business Interruption Fund to include funding for eligible small "mom and pop" businesses directly impacted by unprecedented full street closures with a duration greater than 6 continuous months such as the planned work at 2nd & Broadway segment of the Regional Connector transit rail project.
Issue
ISSUE
Metro's Board issued Motion 57 that authorized the CEO to establish a pilot program for a special Business Interruption Fund (BIF) for "mom and pop businesses" located along the Crenshaw Line, the Little Tokyo area along the Regional Connector and Phase I of the Purple Line extension. This was based on the Board finding there is a clear nexus between construction activities and reduced business activity, especially the walk-in traffic that many of the retail businesses rely on.
An unprecedented full street closure of the 2nd & Broadway segment of the Regional Connector project is anticipated to extend more than 6 months in duration.
Discussion
DISCUSSION
The Regional Connector transit rail project is the only project that has a distinct area identified for eligibility to participate in the BIF; which is the Little Tokyo area. In an effort to maintain adherence to the Board motion and the pilot program framework yet continue to uphold Metro's commitment to being a trusted community builder, partner and stakeholder, Metro staff is seeking authorization to extend the BIF to eligible "mom and pop" businesses directly impacted by anticipated 6 month full street closure at 2nd & Broadway for the Regional Connector project.
The 6 month full street closure at the 2nd & Broadway area would be the longest recorded closure for a Metro rail construction project; as outlined in "The History of Fu...
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