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Article:
Firm Hired to Help Put Together Streetcar’s Financial Plan
The Los Angeles City Council has hired Ernst & Young LLP to assist with putting together a financial plan for the proposed downtown streetcar system.
The firm, which has previously worked on other transit projects in the city, will help evaluate the costs and benefits of the streetcar project. The plan will include estimates for construction, operation, and maintenance expenses, as well as potential revenue sources.
The proposed streetcar system aims to connect various neighborhoods in downtown Los Angeles, providing a convenient and sustainable transportation option for residents and visitors. The project has faced challenges in securing funding, with estimates for the total cost ranging from $100 million to $275 million.
With the help of Ernst & Young LLP, city officials hope to create a viable financial plan that will attract investors and support the development of the streetcar system. The firm will work closely with the city’s Department of Transportation and other stakeholders to ensure that the project moves forward smoothly and efficiently.
Overall, the hiring of Ernst & Young LLP marks an important step forward in the development of the downtown streetcar system, bringing it closer to becoming a reality for the city of Los Angeles.