As a federally designated MPO, SCAG must prepare a long-range financial plan to comply with financial constraint requirements in the metropolitan planning process. Financial constraint means demonstrating that there will be sufficient funds to implement proposed improvements as well as operate and maintain the region’s surface transportation system.
The financial plan identifies how much money is available to support the region’s surface transportation investments including transit, highways, local road improvements, system preservation and demand management goals. It also addresses the need for investment in goods movement infrastructure. Improving ground access in and around major goods movement facilities, and enhancements to major highways and railways are critical to maintaining the health of Southern California’s economy. The 2012-2035 RTP/SCS calls for traditional and non-traditional revenue sources for implementing a program of infrastructure and environmental improvements to keep both freight and people moving.
The 2012-2035 RTP/SCS financial plan identifies a number of reasonably available revenue sources to provide additional funding beyond existing transportation dollars. The SCAG region’s financially constrained plan includes a core revenue forecast of existing local, state, and federal sources along with funding sources that are reasonably available over the time horizon of the RTP/SCS. The financial plan also includes action steps to obtain the revenues necessary for implementing the region’s transportation vision.