California Governor Signs AB 761 to Extend EIFD Terms for West Hollywood Transit Project

California Governor Gavin Newsom has signed AB 761, a crucial law that extends the duration of Enhanced Infrastructure Financing Districts (EIFDs) from 45 years to 75 years. This change is vital for funding the Metro K Line Extension in West Hollywood, aiming to bring Metro rail service to the area sooner than expected. The legislation, championed by Assemblymember Laura Friedman, saw collaboration between the City of West Hollywood and local officials, including LA County Supervisor Lindsey P. Horvath. Mayor John M.

Erickson emphasized the community's support for expanded metro services. The adjustment to EIFD terms aligns with federal Transportation Infrastructure Finance and Innovation Act (TIFIA) loan repayment timelines, allowing local agencies to better manage financing for transit projects. With rising project costs straining funding, this law provides a critical fiscal tool for local governments. As Metro undertakes one of the largest transit expansions in the nation, the extended EIFD terms will enhance the feasibility of such projects. The City of West Hollywood is optimistic that this legislation will significantly improve mobility and connectivity across the region.