Metro - File #: 2019-0108

• File #: 2019-0108
• Type: Motion / Motion Response
• Status: Agenda Ready
• File created: 2/22/2019
• In control: Board of Directors - Regular Board Meeting
• On agenda: 2/28/2019
• Title: APPROVE Motion by Garcetti, Butts, Solis and Hahn that the Board direct the CEO to: A. Prioritize the following pillar projects to address Twenty-Eight by '28 acceleration funding needs: * Gold Line Eastside Extension Phase 2 * Green Line Extension to Torrance * Sepulveda Transit Corridor * West Santa Ana Branch to Downtown LA and reaffirm that it is the first priority for P3 investment B. Prepare a detailed year-by-year potential financial forecast to deliver Twenty-Eight by '28, prioritizing the four pillar projects in section A, with updated assumptions from the revenue sources listed in Board File 2019-0089 (Item 32, February 2019); 1. This forecast shall provide an accelerated schedule for the four pillar projects, including detail on when Measure M funds are available compared to accelerated project schedules; 2. The forecast should prioritize low-risk revenue sources, maximize potential funding from state and federal grant and formula programs, and assume efficiencies from ...
• Sponsors: Board of Directors - Regular Board Meeting
• Indexes: C Line (Green) Extension to Torrance, Congestion pricing, Construction, Eric Garcetti, Formula Allocation / Local Return, Hilda Solis, James Butts, Janice Hahn, Local Returns, Long Range Transportation Plan, Measure M, Measure M Multi-Year Subregional Program, Metro Gold Line, Metro Gold Line Eastside Extension, Metro Green Line, Metro Rail C Line, Metro Rail E Line, Metro Rail L Line, Metro Vision 2028 Plan, Motion / Motion Response, Plan, Policy, Policy Advisory Council, Program, Project, Public private partnerships, Subregional Equity Program, Twenty-eight by '28 Initiative, West Santa Ana Branch Transit Corridor (WSAB) Project
• Related files: 2019-0137, 2019-0224

Meeting_Body
REGULAR BOARD MEETING
FEBRUARY 28, 2019

Preamble
Motion by:

Garcetti, Butts, Solis and Hahn


Item 32.4: Twenty-Eight by '28 Initiative


Metro should always strive to accelerate major transit investments and deliver projects ahead of schedule.

On November 8, 2016 Los Angeles County voters adopted Measure M, a landmark transportation investment. The last Measure M transit project is currently scheduled to open in 2057, 38 years from now.

However, those projects were identified to ease the congestion experienced in LA County today. To accelerate projects, the Board adopted Twenty-Eight by '28, an ambitious acceleration plan to deliver 28 critical transportation projects by 2028.

To deliver Twenty-Eight by '28, Metro identified an acceleration need of approximately $26.2 billion. Additionally, Metro evaluated many potential revenue sources available for acceleration.

As the challenge of delivering Twenty-Eight by '28 comes into greater focus it is clear that additional work will be required to prepare an ambitious but realistic and deliverable program. The next step should be a more detailed examination of what is required to accelerate the major transportation projects.

To better prioritize acceleration efforts, Metro should focus on accelerating transit projects. Metro should ensure that it is leaving no stone unturned, including revenues not previously considered and a healthy discussion of using alternative public and private financing mechanisms outside of Metro's existing financing toolbox.

Additionally, as part of the acceleration plan, Metro should prepare a constructability analysis to determine what is realistic and deliverable for each accelerated project.


Lastly, Metro should adopt the five policy recommendations of the Policy Advisory Council to ensure the integrity of any Twenty-Eight by '28 acceleration plan. These five recommendations are:


A. Decouple Twenty-Eight by '28 from Re-Imagining LA County and its recommendations, ...