A proposed streetcar for downtown Los Angeles will become a reality, thanks to 73 percent of local residents who voted in favor of a property tax that will help cover a portion of the streetcar’s cost. The vote surpassed the two-thirds the tax needed to pass. The new tax will fund about half of the streetcar’s $125 million construction budget. The remainder of the streetcar’s costs are expected to be covered by federal funding. The streetcar is expected to stimulate an additional $1.1 billion downtown, and $24.5 million in added tourist spending every year.
To learn more: http://blogdowntown.com/2012/12/7078-downtowners-vote-yes-on-new-streetcar