PLANNING AND PROGRAMMING COMMITTEE
MARCH 17, 2021
Subject
SUBJECT: 2021 SHORT RANGE TRANSPORATION PLAN FINANCIAL FORECAST PLANNING ASSUMPTIONS
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE the 2021 Short Range Transportation Plan Financial Forecast Planning Assumptions.
Issue
ISSUE
The Financial Forecast identifies the near-term projects and programs that Metro can fund in its Short Range Transportation Plan (SRTP). The forecast is dependent on many planning assumptions and these are being presented to the Board for review and input so that an updated Financial Forecast can be submitted for adoption as part of the SRTP.
Background
BACKGROUND
The Long Range Transportation Plan (LRTP) was adopted by the Board in September 2020 and details how Metro will plan, build, operate, and maintain the Los Angeles County transportation system in the next 30 years. Metro must adopt a financially constrained LRTP to remain eligible for federal and state funding. The SRTP will be an action plan for the LRTP that recommends near-term implementation steps over a fifteen-year timeframe (FY22 to FY36) and reflects needed recalibrations due to the current COVID-19 pandemic.
The Financial Forecast identifies what can be funded in the SRTP and will determine how Metro programs its funding to specific uses. Metro takes action to pursue the funding based on the programming in the Financial Forecast, last adopted as part of the 2020 LRTP. Board input on the planning assumptions, particularly in the areas that the Board can influence, will identify the Board's policy direction and allow staff to complete the Financial Forecast.
Discussion
DISCUSSION
The following are key planning assumptions to be included in the SRTP update, and the impact these have on the Financial Forecast. The Metro Board will adopt the key planning assumptions, including fares, tolls, project prioritization, discretionary new projects, and service levels as part ...
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