Transportation
FEDERAL TRANSPORTATION
The Hollywood community continues to transition into a great urban center for business and entertainment. Consistent, sustained sources of funding are needed to improve public transit, the flow of auto and truck traffic and the condition of area roads. The Hollywood Chamber of Commerce supports efforts to bring much needed transportation funding to Southern California in the next Transportation Reauthorization bill.
Support L.A. County’s 30/10 Transit Plan
Work with local stakeholders to expedite construction of $30-billion in Measure R projects within the next decade. This effort, which will generate thousands of jobs and reduce congestion in Southern California, requires federal collaboration to accelerate funding opportunities.
Support the Creation of a National Infrastructure Innovation and Finance Fund
Approve President Obama’s request for $4-billion in his FY2011 budget to launch this fund, approximately $2.5-billion of which would be handed out in grants or loans. The fund would be used to expand existing federal transportation investments by providing federal funding for large-scale capital projects that “provide a significant economic benefit to the nation or a region.
Support Funding for Positive Train Control (PTC)
Ensure maximum funding in the FY2011 appropriations bill for PTC technology via the Rail Safety Technology Grant Program. This funding will provide additional technology necessary to prevent train-to-train collisions, such as the deadly 2008 Chatsworth Metrolink disaster. Work with Metrolink and local transit agencies on deployment.
STATE TRANSPORTATION
The Hollywood community continues to be a great urban center for business and entertainment. Hollywood is also home to the busiest intersection in the City of Los Angeles at Highland & Franklin Avenues. Consistent, sustained sources of funding are needed to improve public transit, the flow of auto and truck traffic and the condition of area roads.
SUPPORT L.A. County’s 30/10 Transit Plan
Work with local stakeholders to expedite construction of $30-billion in Measure R projects within the next decade. This effort, which will generate thousands of jobs and reduce congestion in Southern California, requires local, state, and federal collaboration to accelerate funding opportunities.
As Hollywood employers and business leaders, traffic congestion is one of our most significant concerns. It contributes to high operational costs through lost productivity and challenges hiring and retaining employees because of commuting and reduced quality of life difficulties. The traffic-congestion costs for the Los Angeles area alone – including through lost productivity - have been estimated at $9-billion or more. This has a very real, significant and ongoing impact on business’ ability to operate in the region and provide high-quality jobs in Los Angeles and throughout the County.
Accelerating these 12 voter-approved major transit projects will dramatically stimulate the economy and generate over 120,000 new, and at least 2800 permanent, well-paid jobs that support families, which Los Angeles County desperately needs as its unemployment rate hovers in the double digits. It also gives employers some tangible light at the end of the tunnel, and renewed reason to continue to invest in this region.
Advancing the amount of clean, efficient, modern public transit work also will create a showcase program to reduce both air pollution and greenhouse gases that cause climate change and health risks. These projects will remove an estimated 500,000 pounds of dirty emissions from the Los Angeles air basin and have significant public health benefits. Getting this done in 10 years versus the current 30-year plan is vital for achieving a more sustainable and livable region.
With this much at stake, it is vital that we are UNITED IN SUPPORT to ensure the Initiative maintains and expands the Federal support it already has gained - and that will be an extremely crucial key in helping accelerate the needed financing. As you know, the “30/10” Initiative would use bridge loans and federal loan guarantees to finance the majority of the projects. These loans would be secured by tax revenue that county voters pledged to the projects when they approved Measure R last year.