Local News in Brief : Minority Fund Starting

Los Angeles County transit officials and Mayor Tom Bradley are scheduled to sign an agreement Monday creating a special $15-million fund designed to help more minority businesses get in on the region’s growing number of mass-transit construction contracts.

Small minority businesses often have difficulty getting bonded by financial institutions. The new fund, whose cost will be split between the city and the county Transportation Commission, would provide necessary financial guarantees to qualifying firms.

Proponents say this type of program is crucial to creating more business opportunities for minorities on large public works contracts, such as the Metro Rail subway and the county’s proposed trolley lines. But officials also acknowledge that there could be losses to the city and the commission if small minority firms, which tend to be less established than other contractors, fail to perform.