Financing Transit: Benefit Assessment in Los Angelesby Gary S. Spivack, Southern California Rapid Transit, District, United States,
Carol E. Inge, Southern California Rapid Transit, District, United States,
Document Type: Proceeding Paper
Part of: Major Development and Transportation Projects: Public/Private Partnerships
Abstract: The Southern California Rapid Transit District (SCRTD) has successfully used benefit assessment to fund a portion of the Los Angeles subway project and to provide the critical private sector participation required by the State and federal governments. A benefit assessment is a fee on properties in a specified area that is used to pay all or part of the costs of specific capital improvements made within and specifically benefiting the area. In July 1985, the SCRTD adopted a resolution creating two special benefit assessment districts for the first phase of its rail project and levied a 1986 assessment of thirty cents per each assessable square foot of property. Following this assessment, the SCRTD deferred collection of further monies until the start of the first phase of rail operations. In October 1988, the SCRTD began establishing five new benefit assessment districts for Phase II of the project.
Subject Headings: Financing | Private sector | Subways | Rapid transit systems | Light rail transit | Federal government | State government | Fees | North America | California | United States | Los Angeles
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