Project Budget
Measure R assumes a project cost of $1.470 billion (2008 dollars). Measure R sales tax revenues will provide up to $1.207 billion (82% of the budgeted cost). The remaining $263 million is expected to come from local funding. The Crenshaw Corridor project will not seek state or federal funding.
The LPA (including design options 1, 2 and 4) is estimated to cost $1.306 billion, which is within budget. If Metro were to include the remaining three design options, the cost would rise to $1.766 billion, exceeding the Measure R project cost by nearly $300 million.
In October 2010 the federal government awarded the corridor a $546 million loan, to be paid back by Measure R tax revenue. The loan will allow construction to begin in summer 2012. Project completion is expected in 2016 or 2018.
Read more about this topic: Crenshaw Corridor (Los Angeles Metro)
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