Voters approved a measure creating an assessment district in downtown Los Angeles to build a streetcar line at a cost of $125 million, according to the Los Angeles Times.
More than 70% of the 2,065 votes cast were in favor of financing for the project, according to the report.
Project boosters see the project as an economic generator to help revive downtown's old movie theaters and office buildings.
"This is a major step forward for downtown, and it really shows the overall support for job growth and urban living," Paul Habibi, a UCLA professor who served as an advisor to the campaign, told the paper. "The turnout was fantastic."
Assessments would be levied on property near the line and be used to back bonds to finance capital costs.
Officials will apply for federal grants to fund the rest of the construction costs and start work on an environmental impact review.
The streetcar, scheduled to open in 2015, will navigate a 10-block route along Broadway through the financial district to the L.A. Live entertainment district.
