ASSIGNMENT AGREEMENT BETWEEN THE CITY OF LAKEWOOD AND THE CITY OF WEST HOLLYWOOD FOR THE EXCHANGE OF PROPOSITION A LOCAL RETURN FUNDS [L. BIERY, P. KESPRADIT, C. VASQUEZ]
Agenda • 2025-11-17 • Item B.11
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AI Summary
Using city funds, this agreement will cost West Hollywood approximately $1.4 million in exchange for $2 million in Proposition A funds from Lakewood. This exchange increases available funds for public transportation projects, potentially enhancing transit services for residents.
How does this affect you?
This agreement affects West Hollywood residents by potentially improving public transportation services. The city is exchanging $1.4 million from its General Fund for $2 million in Proposition A funds, which are specifically earmarked for transit-related projects. This could lead to enhancements in local bus services or other transit improvements, making it easier for residents to commute and reducing reliance on personal vehicles.
Fiscal impact
The city will spend $1.4 million from its General Fund.