Meeting_Body
CONSTRUCTION COMMITTEE
EXECUTIVE MANAGEMENT COMMITTEE
JULY 18, 2019
Subject
SUBJECT: TWENTY-EIGHT BY '28 FINANCIAL FORECAST AND CONSTRUCTABILITY ANALYSIS
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE financial forecast and constructability analysis to deliver the Twenty-Eight by '28 Initiative.
Issue
ISSUE
This item is a response to a Board request (Motion 32.4, #2019-0108) during the Board meeting on February 2019 to prepare a detailed year-by-year financial forecast to deliver Twenty-Eight by '28, prioritizing four "pillar projects," and to conduct a constructability analysis for the pillar projects. Responses to other components of the motion were provided by Metro staff in a May 2019 status report to the Board.
Background
BACKGROUND
Motion 32.4 requests a detailed year-by-year potential financial forecast that prioritizes the four pillar projects listed below; assumes public private partnership (P3) efficiencies but not use of local return revenues; public and private financing not in Metro's existing "toolbox"; and a constructability analysis of the four pillar projects that includes scope, costs, risks, use of alternative modes, and timelines.
Pillar Projects (Measure M Opening Date)
* Gold Line Eastside Extension Phase 2 (FY 2035)
* Green Line Extension to Torrance (FY 2030)
* Sepulveda Transit Corridor (FY 2033)
* West Santa Ana Branch to Downtown LA (FY 2028, FY 2041)
Discussion
DISCUSSION
Metro staff has developed a Pillar Projects Financial Forecast that attempts to identify a viable funding plan for the four projects. The Pillar Projects Financial Forecast is an alternative to the baseline Metro system-wide, or Long Range Transportation Plan (LRTP) financial forecast, which is the multiyear funding plan for all Metro projects, programs, and services.
Key assumptions made include: all pillar projects are completed by FY 2028, the cost of each of the pillar projects is the same as ...
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