Corridor officials say the ability to pay off the enormous debt of at least $1.4 billion depends on the continued growth of the ports at 3% to 5% per year--a rate they described as conservative given Asia's trade potential.
"We feel very comfortable that the volume of cargo going through the corridor will be more than sufficient to cover the debt service obligations," Thomas said. "Eventually, the project will pay for itself."
(BEGIN TEXT OF INFOBOX / INFOGRAPHIC)
A Speedier Corridor for Cargo
The $2.4-billion Alameda Corridor, one of the largest transportation projects in the nation, will stretch 20 miles along Alameda Street from the county's harbors to transcontinental rail hubs near downtown Los Angeles. A concrete-lined trench for freight trains will extend for half the route, from the Artesia Freeway to just south of the Santa Monica Freeway. On the surface, Alameda Street will be rebuilt. The project is expected to improve the movement of cargo to and from the ports.
A Cutaway View of Tracks and Street
The trench will contain two railroad tracks and an access road. Cantilevered track and roadway will cover only some sections of trench.