Glendale-Hyperion Bridges Funding

At a glance

What: part of the Fiscal Year 2026-27 First Transportation-Related Construction Projects Report (Council File 26-1392): reauthorizing $59,686,000 in Municipal Improvement Corporation of Los Angeles (MICLA) front-funding authority for the Glendale-Hyperion Complex of Bridges, with projected annual issuance of $13,382,000 (2026-27), $10,238,000 (2027-28), $9,885,000 (2028-29), $12,885,000 (2029-30) and $13,296,000 (2030-31).
Where it stands: the report was adopted by the City Council on 2026-10-28, 13 ayes, 0 noes (Padilla and Park absent), subject to the Mayor's approval.
Next: the Controller may advance up to $59,686,000 from the Commercial Paper Fund, to be repaid from state and federal reimbursements, and set up a new interest-bearing Glendale Hyperion Complex of Bridges Fund administered by the Board of Public Works and the Bureau of Engineering.

Transfers of $15,744,041 between departments and funds, $2,826,519 between accounts, and appropriations of $6,614,198; rescinding a $1,500,000 Sylmar Channel transfer from the 2025-26 third report.
Vision Zero traffic signal grant reimbursements of up to $3.25 million are to go into the SB1 Road Maintenance and Rehabilitation fund.
MICLA authority of up to $4,000,000 reauthorized for electric vehicle charger infrastructure (borrowing at about 5.5 percent over ten years; estimated total debt service $5.3 million).
$1,120,099 from the Measure M Local Return fund for bicycle path maintenance work by the General Services Department.
The Administrative Officer reported total transactions of $90.33 million and that the 2026-27 non-voter-approved debt service ratio of 2.40 percent stays under the 6 percent ceiling.
Item 10 the same day (Council File 17-0739-S4, Council District 7) authorized the Department of Transportation to apply for and accept $922,191 in State of Good Repair funds for electrical infrastructure for bus charging at the Sylmar Bus Maintenance Yard, 13 ayes; no local match is required.

Items 9 and 10. Item 9 adopted 13 ayes, 2 absent; item 10 adopted 13 ayes, 2 absent.