Senator Boxer said, "This is a great day. The federal government - in partnership with local agencies and the Mayor's office - is helping to leverage local funding to accelerate creation of thousands of jobs, to speed construction of transportation improvements, and to bring those benefits to the people of LA sooner than would otherwise be possible."
As Chairman of the Senate Environment and Public Works Committee, Senator Boxer has been a leading advocate for the 30/10 initiative as a model for leveraging local funding for transportation investments. Senator Boxer has worked closely with the LA Metro, the Mayor's office and other stakeholders on this issue. Under her leadership, the EPW Committee has held hearings on 30/10 and innovative financing options in current law, and on ways to expand on this approach in the future.
The Crenshaw project is a key component of the Los Angeles 30/10 initiative, which is designed to leverage local funds generated by the Measure R sales tax. The federal investment previewed by Senator Boxer on a conference call with reporters today is provided by the U.S. Department of Transportation through the federal TIGER (Transportation Investment Generating Economic Recovery) and TIFIA (Transportation Infrastructure Finance and Innovation Act) programs, and will significantly accelerate construction of the Crenshaw project.
The federal investment is expected to create 5,000 jobs, according to a study by the Los Angeles Economic Development Corporation. The entire Crenshaw project will create more than 15,000 jobs.