The Los Angeles County Metropolitan Transportation Authority (Metro) has contracted with Ernst & Young Infrastructure Advisors, LLC, to help Metro select the best delivery methods possible for advancing major transportation projects in L.A County. LACMTA and Ernst & Young will use the public-private partnership (P3) model that's become increasingly popular (P4).
Metro CEO Phillip A. Washington will introduce the new P3 Financial Advisor team at a kick-off meeting on Sept. 29 with stakeholders from these project areas who are interested in the concept of P3s to see projects in their areas accelerated. The new team will also be instrumental in assessing community needs, and will be available to meet with various community leaders individually and separately to discuss specifics of their respective projects.
"Metro is planning to build out our transportation infrastructure in L.A. County for generations to come,” said Metro Board Chair John Fasana. “P3s offer the opportunity to accelerate some of these projects, enabling us to enjoy transportation benefits sooner."
Through the development of Metro’s current transportation expenditure plan, which goes to voters on November 8 as Measure M, Metro staff identified some of the projects that would be good candidates for P3s. Those include the West Santa Ana Transit Corridor project, the High Desert Multi-Purpose Corridor, the Sepulveda Pass Transit Corridor and the Crenshaw Line Northern Extension project.
Through Metro’s new Office of Extraordinary Innovation, the agency has been very vocal about seeking unsolicited proposals for innovative ways to accelerate project delivery, improve design and implementation and reduce the costs associated with major infrastructure projects. Once proposals are received, they are evaluated to determine their financial and technical feasibility, customer benefits and whether they match Metro’s needs and capabilities.
"P3s are a critical mechanism for bringing innovation to project delivery,” said Metro Chief Innovation Officer Joshua Schank. “This meeting is the next step in Metro's efforts to deliver one of the largest infrastructure programs in the country faster, better and cheaper."