Funds Approved for Park-and-Ride Lot
The Los Angeles City Council voted Wednesday to spend $500,000 to build a park-and-ride lot in Van Nuys to serve the overflow demand from a popular lot in Encino.
The $500,000 will come from a $400,000 grant from the Metropolitan Transportation Authority and $100,000 in city matching funds. It will pay for a 150-space parking lot, lighting, landscaping and an irrigation system at Balboa and Victory boulevards.
The city had wanted to expand the Encino park-and-ride lot at Hayvenhurst Avenue and Magnolia Boulevard to adjacent land owned by the Army Corps of Engineers.
But after “protracted negotiations” the city was unable to reach an agreement on buying the land, according to a city report.
Instead, city transportation officials decided to develop a new lot on undeveloped land at Balboa and Victory boulevards, which is owned by the MTA. The MTA has agreed to lease the property to the city for $1 per year.
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