LOS ANGELES (KTLA) — A $3 billion proposal that would repair potholes on the streets of Los Angeles was one step closer to becoming a reality on Thursday.
Local lawmakers have agreed to analyze possible funding sources for the proposal, which would fix the nearly 9,000 miles of city streets.
Resurfacing and rebuilding the city’s broken streets is part of a 60-year backlog of repairs.
Just patching potholes and bumpy roads was expected to cost about $25,000 per mile.
If the damage was bad enough that the street had to be rebuilt, the price tag could be ten times that figure.
The money could come from a mix of sources.
The possibilities included a new property tax or borrowing against future sales of gas tax revenues.
If property taxes were to go up, it would about a 1 percent increase on the value of the home, officials said.