Meeting_Body
REVISED
REGULAR BOARD MEETING
FEBRUARY 23, 2023
Preamble
Motion by:
DIRECTORS KREKORIAN, NAJARIAN, HORVATH, BARGER, BASS, AND DUPONT-WALKER
East San Fernando Valley Light Rail Transit Line Pilot Business Interruption Fund
The East San Fernando Valley - Light Rail Transit Project is a transformative project that will bring the Valley its first light rail line since the discontinuance of the Pacific-Electric Red Cars in 1952. The first phase will feature 11 stops on a 6.7-mile route between the G Line busway and Pacoima. It will connect Valley residents and businesses to more transportation options and relieve the need to travel within the communities along the corridor with a vehicle. Just as important, it will stimulate tremendous economic growth and opportunity for the business community along and near the route.
With early utility work already underway, Metro staff has begun conducting outreach and communicating with the various stakeholders along the corridor. And as the Metro Board is voting to approve and award the Pre-Construction contract, and beginning to build the transit network Measure M promised for the future, we need to also consider and help the businesses and stakeholders along the project corridor today.
One recent tool Metro has used is the Pilot Business Interruption Fund (BIF) program, which has been successful at addressing direct construction impacts to small "mom and pop" businesses along some of our rail corridors. This program is also a demonstration of Metro's commitment to being a trusted community builder, partner and stakeholder.
Subject
SUBJECT: EAST SAN FERNANDO VALLEY LIGHT RAIL TRANSIT LINE PILOT BUSINESS INTERRUPTION FUND MOTION
Heading
RECOMMENDATION
Title
APPROVE Motion by Directors Krekorian, Najarian, Horvath, Barger, Bass, and Dupont-Walker that the Board direct Metro to complete a comprehensive assessment of the Pilot Business Interruption Fund program and report back in March with recommendat...
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