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Economic Development Program
Metro’s Economic Development Program (EDP) outlines a comprehensive strategy to support, sustain, and grow small businesses and eligible nonprofit organizations near transit.
To learn more about the Metro Economic Development Program and how we're supporting small businesses near transit, click below.
The EDP is focused on areas in or adjacent to an Equity Focused Community (EFC). The Transit Oriented Communities EDP, includes;
- Station Area Activation
- Pilot Investment Fund (Fund)
Station Area Activation
Station Area Activation creates community spaces with amenities for transit riders and residents while activating the commercial space available systemwide and utilizing Metro real estate. It incorporates previous board actions aimed at stimulating economic activity through ‘Markets at Metro,’ including:
- The Small-Scale Retail Program
- Plaza Vending Programs
- Coordination with Metro Joint Development to optimize ground floor retail space in future housing developments
Pilot Investment Fund
The Pilot Investment Fund is a 2-Year Pilot Investment Fund (Fund) Program that will make loans available to support small business preservation and sustainability. It will provide financial resources and technical assistance to small businesses and eligible nonprofit organizations within half a mile of pilot corridors.
The Fund Service Areas will be piloted within a half-mile radius around the K Line alignment and Little Tokyo/Arts District segment to maximize business preservation after construction of new rail lines.
Who will administer the Pilot Investment Fund?
A Community Development Financial Institution (CDFI) will administer the Fund. CDFI Certification is the U.S. Department of the Treasury’s recognition of specialized financial institutions serving low-income communities.
Fund Partnerships
The Fund requires private and public partnerships to maximize the financial investment. Metro is working with financial institutions, the State of California, County of Los Angeles, cities and other eligible entities to contribute to the Fund.
Additional Resources
Documents
Can’t find something? Contact Public Records.
Contact Us
For General Inquiries: edp@metro.net
Michelle Banks-Ordone, Senior Director
213-547-4375
Email: banksordonem@metro.net
Tess Paige, Manager
213-922-7168
Email: paiget@metro.net
