Let's post the article. Sad, I say. $7.2b for the same system (less, actually) that was supposed to be $4.7b. That's not a mere increase in construction costs; it's a massive f-up. Even if projected revenues hadn't taken a nose-dive, they still wouldn't have been close (maybe, with the PPPs, more federal money, etc etc, but still doubtful). I mean, if this was a perfect system, maybe I could understand taking a full generation (not exaggerating anymore - we're looking at 24 years from election to completion) to complete it. But this is only half a solution; a mediocre commuter system. I hate to play the China card, but what did
their rail landscape look like 24 years ago? What will it look like in another 24 years? I have a hard time believing that automobile technology won't leave Fastracks in the dust at this rate. It pains me to say, but I'm pretty sure Google can find a way to double our freeway capacity long before RTD will get an extra 4 miles of train to Highlands Ranch completed.
denver and the west
RTD staff propose additional 0.2% sales tax for FasTracks
By Jeffrey Leib
The Denver Post
The Denver Post
Posted:01/26/2011 01:00:00 AM MST
RTD's staff is proposing that the agency's board of directors seek a 0.2 percent sales-tax increase in November to complete up to 90 percent of the FasTracks program by 2022 and all of the transit expansion by 2027.
The Regional Transportation District is short at least $2 billion to complete FasTracks with its current funding sources, which include a 0.4 percent sales tax approved by metro Denver voters in 2004.
In a presentation to directors Tuesday night, RTD planners rejected the option of asking voters to double the existing tax by approving a 0.4 percent hike, or, alternately, to ask for only a 0.1 percent increase.
In choosing the 0.2 percent tax increase, RTD officials said if the additional levy is approved, it will stretch out completion of FasTracks into the next decade, and the cost of the entire project will grow to $7.2 billion from the current estimate of $6.7 billion, which assumes completion in 2019.
RTD will have momentum to win voter approval for a 0.2 percent tax increase this year, said general manager Phillip Washington, noting that the agency has $305 million to begin early construction of key elements of FasTracks that still will need proceeds from a successful tax vote to complete.
Another event that should aid in getting voter approval of a tax hike this year, Washington said, is his agency's expectation that the Federal Transit Administration in May will announce a $1.03 billion grant to RTD for the FasTracks public-private partnership that will build a train line to Denver International Airport and the light-rail Gold Line to Arvada/ Wheat Ridge.
Acceptance by voters of a 0.2 percent tax increase, coupled with the $305 million in advance funds, would allow RTD to complete 75 percent of FasTracks by 2016, Washington said, including the entire DIA and Gold Line routes, an initial segment of the Interstate 225 light-rail line from Parker Road to East Iliff Avenue, a segment of the North Metro commuter train to East 72nd Avenue, and the extension of HOV/HOT express lanes on U.S. 36 from Pecos Street to the Interlocken commercial complex.
The 0.2 percent scenario also would allow RTD to finish constructing the I-225 rail line to Smith Road and Peoria Street by 2019 and complete the entire North Metro line to Thornton/Northglenn and extensions of existing light rail to Lone Tree and Highlands Ranch by 2024, according to RTD's analysis.
The final rail line to be finished under this scenario would be the commuter train to Boulder/Longmont, which would not be finished until 2027, the analysis showed.
On Thursday, the FasTracks task force of the Metro Mayors Caucus is expected to endorse one of the tax-vote scenarios.
RTD directors will not vote until next month on whether to accept the staff's recommendation of going for a 0.2 percent tax hike, which would cost consumers an additional 2 cents on every $10 taxable purchase.
Jeffrey Leib: 303-954-1645 or
[email protected]
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