Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
FEBRUARY 20, 2019
EXECUTIVE MANAGEMENT COMMITTEE
FEBRUARY 21, 2019
Subject
SUBJECT: EQUITY STRATEGY FOR CONGESTION PRICING STUDY: RESPONSE TO MOTION
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE report on equity strategy for congestion pricing in response to Board Motion 43.2.
Issue
ISSUE
On January 24, 2019, the Board passed Motion No. 43.2 (Solis, Garcetti, Dupont-Walker, Butts and Hahn; Attachment A) that directed the CEO to "Develop an Equity Strategy that considers reinvesting congestion pricing revenue as a key source of funds to minimize economic impacts to low-income drivers", one of six provisions. This Motion was provided, in addition to Motion 43.1 (Butts), in response to staff's continuing response to Motion 4.1, directing the CEO to present a comprehensive funding plan for the "28 x 2028" initiative. This Receive and File Board Report provides the context for responding to Motion No. 43.2, including the specific points outlined therein.
Background
BACKGROUND
Among many issues and recommendations outlined by staff in its response to the 28 x 2028 directive from September 2019, the central challenge has been identifying a range of potential funding sources robust enough to address the additional $26 billion operating and capital investment needed to accelerate the delivery of eight major projects in advance of the Olympic Games. To do so, it is evident that dramatically aggressive funding must come from either existing or new sources of revenue. In either instance, identifying, securing and applying revenues of such magnitude will raise significant equity questions - basically, where do those revenues come from, who benefits from using those funds for 28 x 2028, and who potentially "loses" by virtue of those revenues not being invested in other priorities. While these questions must be front and center in any final response to the 28 x 2028 question, M...
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