Some interesting news on the Streetcar front from the
Downtown News. In order for this to really take off, the three co-hosts will have to donate themselves, but this is a welcome development in my opinion.
Big Names Get Behind Streetcar Project
Sept. 30 Fundraiser to Include Eli Broad, Tim Leiweke and Rick Caruso
Richard Guzman, City Editor
Published: Wednesday, May 12, 2010 10:44 AM PDT
DOWNTOWN LOS ANGELES - Some big names are getting behind the effort to bring back a streetcar to Downtown Los Angeles. They will all come together in the fall in a major L.A. Live fundraiser.
A cocktail reception has been scheduled for Thursday, Sept. 30, at the L.A. Live Target Terrace. It will be hosted by 14th District Councilman José Huizar, whose 2-year-old Bringing Back Broadway initiative has propelled the idea of a streetcar line.
Also listed as co-hosts are philanthropist Eli Broad, developer Rick Caruso and Anschutz Entertainment Group President and CEO Tim Leiweke.
Sponsoring and ticket information has yet to be released. The event will benefit the nonprofit Los Angeles Streetcar Inc., which was formed in 2009 to handle the design, construction and eventual operation of the proposed Downtown streetcar.
The streetcar is a key component of Huizar’s 10-year plan to revitalize Broadway.
The streetcar, which would connect L.A. Live to Bunker Hill, is estimated to cost $100 million. So far, a little more than $10.5 million has been secured for the project as Huizar continues to look at a mix of federal and private sources to raise the money. One likely possibility to secure a portion of the funds is an assessment district in which property owners along the proposed route would be taxed.
Huizar has pegged a 2014 deadline for opening the streetcar, but that rests on $25 million the group is seeking from the Federal Transit Administration’s Urban Circulators program. The application has been filed and an answer is expected in June.
Two principal route options are being considered for the streetcar. In either case, the main southbound spine would be on Broadway. The main northbound corridor would be on Hill or Olive streets.