Transit Board Votes for 5 Assessment Districts
The Southern California Rapid Transit District Board of Directors voted Thursday to create five assessment districts along the proposed extension of the Metro Rail subway from MacArthur Park to North Hollywood to help pay for the $2.5-billion project.
The vote came despite petition drives in four of the districts that ultimately could force the transit agency to poll an estimated 3,000 affected commercial property owners before imposing the tax, which is intended to finance $75 million in construction bonds. Any tax would have to be approved by both the city and the county.
In a related matter, the board extended the boundaries of the Universal City district to include the Registry Hotel, which had been excluded by the task force that set boundaries for the five districts. Board members said the hotel, although located on top of a steep hill, stands to benefit from the subway. They will take final action on the new boundaries in two weeks.
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