Meeting_Body
FINANCE, BUDGET, AND AUDIT COMMITTEE
FEBRUARY 14, 2024
EXECUTIVE MANAGEMENT COMMITTEE
FEBRUARY 15, 2024
Subject
SUBJECT: 48 BY '28 AND RECIPROCITY
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE the progress report on the 48 by '28 8-point Plan and Certification Reciprocity.
Issue
ISSUE
On July 27, 2023, the Board passed Motion 24 by Directors Hahn, Dupont-Walker, Solis, Butts, and Sandoval requesting progress updates on the following: a) implementing the initiatives laid out in the "48 by '28 Plan" to increase small and disadvantaged business participation; b) recommendations included in the Office of the Inspector General (OIG) survey of small business enterprise certification programs; and c) developing an annual, fiscal year-end report on the agency's progress toward reaching the 48% target by 2028. This report is a progress update in response to Motion 24 (Attachment A).
Background
BACKGROUND
With the passage of Measure R and Measure M, Metro has undertaken a historic infrastructure capital program that provides numerous opportunities for businesses across the region to compete for projects that create thousands of jobs. Increasing the percentage of transportation dollars that remain in the region and within economically and socially disadvantaged communities is vital to LA County's post pandemic recovery and aligns with the Board-Approved Equity Platform.
In May 2022, the Board adopted the 48 by '28 8-point plan of eight new initiatives aimed at achieving a 48% aspirational target of small business participation on Measure R and Measure M funded expenditures by the 2028 Games. Through partnership with local jurisdictions, Metro seeks to increase the percentage of transportation dollars that remain in the region and within economically and socially disadvantaged communities.
In July 2022, Metro's OIG completed its draft report on the Survey of Small Business Enterprise (SBE) Certification P...
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