Speed camera project runs $1.25 million over budget
Malibu's $20 million automated traffic ticket camera program has a cost overrun, and the city may have to cover it out of the general fund.
By Hans Laetz
What to do about the cost blowout for the automatic traffic ticket cameras?
The $20 million project is mostly funded by Metro, the countywide transit agency that distributes a sales tax of one-half percent.
There's a $1.25 million cost overrun, and it looks like the city may have to cover it.
The city could go back to Metro and ask them to cover the $1.25 million shortfall in revenue from the automated speed cameras.
How much revenue? More than $4 million per year, is the estimate.
City staff is asking the city council if the general fund can cover the shortfall, to be made up with revenue from the automatic speed tickets — revenue that won't come in unless the cost overrun is covered upfront by the city.
The city council subcommittee on administration and finance will meet this afternoon to decide on the cost overrun.
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