The RFI was launched in September 2014. The responses have been submitted by business firms based in 19 cities in four different countries. Council member Huizar's office reported in a statement:
"We knew there were possibilities in developing a public-private partnership for the L.A. Streetcar project, but two dozen firms responding at this early stage shows undeniably strong private sector interest in helping the City of Los Angeles achieve this regionally significant transportation project."
According to sources, the L.A. streetcar would run along parts of First, Broadway, Eleventh, Figueroa, Seventh, and Hillto complete a 3.8-mile route.
The project is backed by L.A. Streetcar, Inc., an advocacy group, and supported by many city officials.
The city has plans to launch a request for proposals (RFP), which is expected to take the form of either a design, build, finance, operate and maintain (DBFOM) or a design, build, operate and maintain (DBOM) agreement.
The total project investment is estimated at about US$260 million. Up to US$75 million could come from a Federal Transit Administration (FTA) grant and US$10 million could come from the defunct Community Redevelopment Agency. In addition US$85 million have been secured through a tax on property owners within a zone along the streetcar route, approved by a vote among those potentially affected.
According to an AECOM's report, the streetcar would bring US$1.6 billion in new development and US$303 million in new tax revenue over the 30 years following construction.