Independent Cities Finance Authority (ICFA) is now providing a turnkey solution for financing street and community improvements called the “M Local Express.”
The M Local Express provides millions of dollars to L.A. County cities for public works projects that ease traffic congestion and reduce accidents. Onboard the M Local Express, cities can fund capital projects that repave local streets, repair potholes, upgrade intersections, create bike and pedestrian connections, provide mobility options, establish earthquake retrofitting, and much more.
This opportunity is made possible by Measure M, a ½-cent sales tax increase that was supported by L.A. County voters to secure funding for the L.A. County Traffic Improvement Plan. Measure M sales tax revenues back ICFA’s accelerated program, allowing cities to access funds immediately for long-needed repairs and improvements for their communities. Untapped Measure R transportation funds may create an even larger financing opportunity for cities.
ICFA members experience a range of benefits from working with a responsive financing team that understands the needs of L.A. County cities to alleviate city staff’s burden of filing continuing disclosures. The ICFA team can help cities through a nimble and swift issuance process that capitalizes on today’s low interest rate environment. Additionally, voter approval, court validation, and a general fund pledge are not required. Freedom and flexibility accompany this program, allowing cities to determine a range of terms best suited to their needs.
For more information about ICFA’s M Local Express, please click/tap here.
About Independent Cities Finance Authority
ICFA is a joint powers authority, created by L.A. County-based cities in 1988. Overseen by elected officials in L.A. County, The Authority is dedicated to assisting its member cities in improving their communities through a variety of solution-oriented financing programs.
*ICFA is not advising or recommending any action be taken with respect to any prospective, new or existing municipal financial products or issuance of municipal securities (including with respect to the structure, timing, terms and other similar matters concerning such financial products or issues). The recipient of this document shall discuss any such information and material contained in this document with any and all internal and/or external advisors and experts that it deems appropriate before acting on the information and material.