ACS signs funicular concession

A team led by developer ACS has reached an agreement to restore the Angels Flight Railway in downtown Los Angeles

The Angels Flight Railway Foundation and ACS finalized a revenue risk concession structure to recondition, operate, and maintain the funicular for the next 30 years.

The 116-year old railway between Hill and Olive Streets on Bunker Hill is to reopen in September.

Law firms Nossaman and Shumaker Mallory represented the foundation.

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