LA Metro Finance, Budget and Audit Committee · Mar 19, 2026
Thursday47 min3 officials identified8 public speakers20 agenda itemsVideo: Granicus
The longest item after routine business: Unlocking possibilities: enhancing the financial and community value of key metro stations to support long-term revenue generation motion, 8 min of this 47 min meeting.
0:00:0047:00
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Agenda · 20 itemsShowHide
- 0:48Roll Call: 5 members present, 2 members absent, 0 members excused.
- 2:35APPROVE Consent Calendar Items: 10, 11, 12, 13, and 14. Consent Calendar items are approved by one motion unless held by a Director for discussion and/or separate action.
- 3:11Motion to Approve APPROVE Consent Calendar Items: 10, 11, 12, 13, and 14. Consent Calendar items are approved by one motion unless held by a Director for discussion and/or separate action. Moved by 0, no second required.
- 3:25Public Speaker was called to speakPublic Speaker was called to speakKathryn Barger was called to speakTim Sandoval was called to speakKaty Yaroslavsky was called to speakPublic Speaker was called to speakHolly J. Mitchell was called to speakTim Sandoval was called to speakPublic Speaker was called to speak
- 4:55Vote to Approve APPROVE Consent Calendar Items: 10, 11, 12, 13, and 14. Consent Calendar items are approved by one motion unless held by a Director for discussion and/or separate action. (Approved)
- 4:58MUNICIPAL ADVISORY SERVICES BENCH AUTHORIZE the Chief Executive Officer to award eight, six-year task order-based bench contracts for Municipal Advisory Services and execute task orders under these contracts for a total Not-To-Exceed (NTE) amount of $7,100,000, effective May 1, 2026, subject to the resolution of properly submitted protest(s), if any: · PFM Financial Advisors LLC (PS133271000) · Montague DeRose and Associates, LLC (PS133271001) · Public Resources Advisory Group (PS133271002) · Frasca & Associates, LLC (PS133271003) · KNN Public Finance, LLC (PS133271004) · Sperry Capital Inc. (PS133271005) · Fieldman, Rolapp & Associates, Inc. (PS133271006) · Backstrom McCarley Berry & Co., LLC (PS133271007)
- 5:32MUNICIPAL ADVISORY SERVICES BENCH AUTHORIZE the Chief Executive Officer to award eight, six-year task order-based bench contracts for Municipal Advisory Services and execute task orders under these contracts for a total Not-To-Exceed (NTE) amount of $7,100,000, effective May 1, 2026, subject to the resolution of properly submitted protest(s), if any: · PFM Financial Advisors LLC (PS133271000) · Montague DeRose and Associates, LLC (PS133271001) · Public Resources Advisory Group (PS133271002) · Frasca & Associates, LLC (PS133271003) · KNN Public Finance, LLC (PS133271004) · Sperry Capital Inc. (PS133271005) · Fieldman, Rolapp & Associates, Inc. (PS133271006) · Backstrom McCarley Berry & Co., LLC (PS133271007) Moved by 0, no second required.
- 5:36MUNICIPAL ADVISORY SERVICES BENCH AUTHORIZE the Chief Executive Officer to award eight, six-year task order-based bench contracts for Municipal Advisory Services and execute task orders under these contracts for a total Not-To-Exceed (NTE) amount of $7,100,000, effective May 1, 2026, subject to the resolution of properly submitted protest(s), if any: · PFM Financial Advisors LLC (PS133271000) · Montague DeRose and Associates, LLC (PS133271001) · Public Resources Advisory Group (PS133271002) · Frasca & Associates, LLC (PS133271003) · KNN Public Finance, LLC (PS133271004) · Sperry Capital Inc. (PS133271005) · Fieldman, Rolapp & Associates, Inc. (PS133271006) · Backstrom McCarley Berry & Co., LLC (PS133271007) (Approved)
- 5:44PROPOSITION C BONDS ADOPT a Resolution (Attachment A) that authorizes the issuance and negotiated sale of up to $450 million in aggregate principal amount of Proposition C Sales Tax Revenue Senior Bonds (the "Bonds"), in one or more series, to finance capital projects, refund the Proposition C Senior Sales Tax Revenue Refunding Bonds, Senior Bonds, Series 2016-A (the "Refunded Bonds"), and to take of all other actions necessary in connection with the issuance of the Bonds. (REQUIRES SEPARATE, SIMPLE MAJORITY VOTE OF THE BOARD)
- 6:00PROPOSITION C BONDS ADOPT a Resolution (Attachment A) that authorizes the issuance and negotiated sale of up to $450 million in aggregate principal amount of Proposition C Sales Tax Revenue Senior Bonds (the "Bonds"), in one or more series, to finance capital projects, refund the Proposition C Senior Sales Tax Revenue Refunding Bonds, Senior Bonds, Series 2016-A (the "Refunded Bonds"), and to take of all other actions necessary in connection with the issuance of the Bonds. (REQUIRES SEPARATE, SIMPLE MAJORITY VOTE OF THE BOARD) Moved by 0, no second required.
- 6:04PROPOSITION C BONDS ADOPT a Resolution (Attachment A) that authorizes the issuance and negotiated sale of up to $450 million in aggregate principal amount of Proposition C Sales Tax Revenue Senior Bonds (the "Bonds"), in one or more series, to finance capital projects, refund the Proposition C Senior Sales Tax Revenue Refunding Bonds, Senior Bonds, Series 2016-A (the "Refunded Bonds"), and to take of all other actions necessary in connection with the issuance of the Bonds. (REQUIRES SEPARATE, SIMPLE MAJORITY VOTE OF THE BOARD) (Approved)
- 6:06MEASURE R BONDS ADOPT a Resolution (Attachment A) that authorizes the issuance and negotiated sale of up to $980 million in aggregate principal amount of Measure R Sales Tax Revenue Senior Bonds (the "Bonds"), in one or more series, to refund the Measure R Senior Sales Tax Revenue Bonds, Series 2016-A (the "Refunded Bonds"), finance capital projects, reimburse LACMTA for the development and construction of certain projects, refund outstanding Measure R Commercial Paper Notes, and to take of all other actions necessary in connection with the issuance of the Bonds. (REQUIRES SEPARATE, SIMPLE MAJORITY VOTE OF THE BOARD)
- 6:37MEASURE R BONDS ADOPT a Resolution (Attachment A) that authorizes the issuance and negotiated sale of up to $980 million in aggregate principal amount of Measure R Sales Tax Revenue Senior Bonds (the "Bonds"), in one or more series, to refund the Measure R Senior Sales Tax Revenue Bonds, Series 2016-A (the "Refunded Bonds"), finance capital projects, reimburse LACMTA for the development and construction of certain projects, refund outstanding Measure R Commercial Paper Notes, and to take of all other actions necessary in connection with the issuance of the Bonds. (REQUIRES SEPARATE, SIMPLE MAJORITY VOTE OF THE BOARD) Moved by 0, no second required.
- 6:40MEASURE R BONDS ADOPT a Resolution (Attachment A) that authorizes the issuance and negotiated sale of up to $980 million in aggregate principal amount of Measure R Sales Tax Revenue Senior Bonds (the "Bonds"), in one or more series, to refund the Measure R Senior Sales Tax Revenue Bonds, Series 2016-A (the "Refunded Bonds"), finance capital projects, reimburse LACMTA for the development and construction of certain projects, refund outstanding Measure R Commercial Paper Notes, and to take of all other actions necessary in connection with the issuance of the Bonds. (REQUIRES SEPARATE, SIMPLE MAJORITY VOTE OF THE BOARD) (Approved)
- 6:46FISCAL YEAR 2027 BUDGET DEVELOPMENT STATUS UPDATE RECEIVE AND FILE the Fiscal Year 2027 (FY27) Budget Development Status Update.
- 9:12Roll Call: 6 members present, 1 members absent, 0 members excused.
- 27:04UNLOCKING POSSIBILITIES: ENHANCING THE FINANCIAL AND COMMUNITY VALUE OF KEY METRO STATIONS TO SUPPORT LONG-TERM REVENUE GENERATION MOTION APPROVE Motion by Yaroslavsky, Bass, Dutra, Sandoval and Solis that the Board direct the Chief Executive Officer to report back within 180 days with a strategic framework for implementing a Metro Station Commercial District Strategy across the Metro system, positioning stations as active commercial hubs with retail, services, and mixed-use development integrated above, within, and adjacent to stations to support long-term non-fare revenue generation. The report back should include progress on the following components: A. System Assessment - an evaluation of opportunities and constraints for station retail across the Metro system, including: 1. Review of international best practices; 2. Review of previous and existing retail activations within Metro facilities and lessons learned from both successful and unsuccessful efforts, including but not limited to operational barriers, location factors, and design challenges; 3. Evaluation of passenger circulation, station design, and other factors affecting retail viability; 4. Identification and prioritization of potential locations suitable for initial pilot implementation; B. Strategic Framework - a proposed strategy for developing station-centered commercial districts across the Metro system, including: 1. Opportunities for commercial development above, adjacent to, and integrated within stations, including underground concourses, mixed-use development, and connections to surrounding districts; 2. Distinct approaches for new stations currently in development and existing stations within the system; 3. Identification of potential partnership structures with experienced retail operators or commercial management firms experienced in station retail environments; 4. Identification of implementation approaches consistent with Me
- 35:34UNLOCKING POSSIBILITIES: ENHANCING THE FINANCIAL AND COMMUNITY VALUE OF KEY METRO STATIONS TO SUPPORT LONG-TERM REVENUE GENERATION MOTION APPROVE Motion by Yaroslavsky, Bass, Dutra, Sandoval and Solis that the Board direct the Chief Executive Officer to report back within 180 days with a strategic framework for implementing a Metro Station Commercial District Strategy across the Metro system, positioning stations as active commercial hubs with retail, services, and mixed-use development integrated above, within, and adjacent to stations to support long-term non-fare revenue generation. The report back should include progress on the following components: A. System Assessment - an evaluation of opportunities and constraints for station retail across the Metro system, including: 1. Review of international best practices; 2. Review of previous and existing retail activations within Metro facilities and lessons learned from both successful and unsuccessful efforts, including but not limited to operational barriers, location factors, and design challenges; 3. Evaluation of passenger circulation, station design, and other factors affecting retail viability; 4. Identification and prioritization of potential locations suitable for initial pilot implementation; B. Strategic Framework - a proposed strategy for developing station-centered commercial districts across the Metro system, including: 1. Opportunities for commercial development above, adjacent to, and integrated within stations, including underground concourses, mixed-use development, and connections to surrounding districts; 2. Distinct approaches for new stations currently in development and existing stations within the system; 3. Identification of potential partnership structures with experienced retail operators or commercial management firms experienced in station retail environments; 4. Identification of implementation approaches
- 35:54UNLOCKING POSSIBILITIES: ENHANCING THE FINANCIAL AND COMMUNITY VALUE OF KEY METRO STATIONS TO SUPPORT LONG-TERM REVENUE GENERATION MOTION APPROVE Motion by Yaroslavsky, Bass, Dutra, Sandoval and Solis that the Board direct the Chief Executive Officer to report back within 180 days with a strategic framework for implementing a Metro Station Commercial District Strategy across the Metro system, positioning stations as active commercial hubs with retail, services, and mixed-use development integrated above, within, and adjacent to stations to support long-term non-fare revenue generation. The report back should include progress on the following components: A. System Assessment - an evaluation of opportunities and constraints for station retail across the Metro system, including: 1. Review of international best practices; 2. Review of previous and existing retail activations within Metro facilities and lessons learned from both successful and unsuccessful efforts, including but not limited to operational barriers, location factors, and design challenges; 3. Evaluation of passenger circulation, station design, and other factors affecting retail viability; 4. Identification and prioritization of potential locations suitable for initial pilot implementation; B. Strategic Framework - a proposed strategy for developing station-centered commercial districts across the Metro system, including: 1. Opportunities for commercial development above, adjacent to, and integrated within stations, including underground concourses, mixed-use development, and connections to surrounding districts; 2. Distinct approaches for new stations currently in development and existing stations within the system; 3. Identification of potential partnership structures with experienced retail operators or commercial management firms experienced in station retail environments; 4. Identification of implementation approaches co
- 35:56GENERAL PUBLIC COMMENT RECEIVE General Public Comment
What happened
Each sentence checked against the transcript.
- The committee took up the consent calendar, items 10 through 14; public comment was taken, and a motion and second were made.2:35
- The motion on the consent calendar was announced as passing, and the committee moved to the non-consent items, starting with item 15, Municipal Advisory Services Bench.4:40
- Item 15 passed on a motion. Item 16, Proposition C bonds, and item 17, Measure R bonds, were taken up with no presentations and no public comments.5:27
- Item 18, the fiscal year 2027 budget development status update, was presented by staff as a receive and file report covering four programs.6:40
Who spoke
3 officials identified · talk time, most first.
- Tim SandovalChair · 7.5 min
- Katy Young YaroslavskyVice chair · District 5 · 1.7 minFirst speaks at 27:28
- Kathryn BargerLA County Supervisor, District 5 · 0.9 minFirst speaks at 23:45
Public comment: 8 speakers.
How we count
Each summary sentence is checked against the transcript before it is published; in a blind check, 98 of 100 sentences were right. A voice gets an official’s name only when two AI readers and a code check agree, so the minutes undercount and are not attendance. Officials only: members of the public are counted, never named, shown or quoted, and full transcripts aren’t published because they can carry their names. More on how we know
Cite this page
Hamlet, “LA Metro Finance, Budget and Audit Committee, Mar 19, 2026: Los Angeles.” https://cities.myhamlet.com/la/metro-finance-budget-audit/meetings/2026-03-19. Data as of Oct 9, 2026 (version d14b03c); meeting of Mar 19, 2026.