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To build or not to build?That’s a question RTD’s asking about cash-short FasTracksPeter Marcus, DDN Staff WriterThursday, October 16, 2008 | |
Regional Transportation District FasTracks planners asked the public yesterday for answers to solve the project’s “crisis” as it is facing a $1.8 billion funding deficit.
Declining revenues in a depressed economy, as well as rising construction costs have left the $6.1 billion voter-approved transit project looking for $1.8 billion to reach the $7.9 billion planners estimate the project will cost by 2017.
Taxpayers yesterday at a public hearing at the Highlands Senior Center in Denver were first presented with several base assumptions for the project. Those included all environmental, documentation, basic engineering and right-of-way purchases would be made; the current projects under construction would be completed; Denver Union Station and all maintenance facilities would be completed; and the Gold and East lines would be completed in order to secure eligibility for $1 billion in federal funds. Taxpayers were then presented with five options for completing the project.
Options
• Only complete segments of the corridor by 2017
• One additional complete corridor by 2017
• Segments of other corridors by 2017 — build the rest over time as revenues allow
• Longer segments of other corridors with limited service by 2017 — build the rest over time as revenues allow
• Build the complete FasTracks program by 2017 — seek additional revenue sources, including raising sales taxes
Those there backed tax raise
The majority of the public’s sentiment — after a vote of about 12 people attending the meeting was taken — rested with the last option, seeking additional revenue sources, including raising taxes.
“It provides the best option in terms of building out the complete FasTracks system,” said Denver resident Bill Johnston. “We have to recognize the situation as far as the economy is concerned and construction costs. This offers a number of options for developing the necessary financing to complete every segment of the system.”
Bill Sirois, manager of transit-oriented development for RTD, said public sentiment has predominantly lied with seeking additional revenue sources for the project. There will be a total of 16 meetings in each of the 15 RTD districts concerning the FasTracks project.
Partnerships
In addition to raising sales taxes, additional revenue could be found by partnering with the Colorado Department of Transportation, seeking public-private partnerships, investigating more federal funding and increasing fares and parking fees, said Sirois.
Councilman Rick Garcia said at the meeting he is optimistic the project will see completion, pointing to advances in the West Corridor. He said the corridor recently received approval from the Federal Transit Administration for federal dollars to be used for construction. He added that construction has already begun on the corridor.
“It’s moving and it’s going to happen,” he told a room full of citizens concerned the project is falling too far behind.
Juanita Chacon, board member for District C, agreed that the FasTracks project is facing a crisis, but added that it will be citizens’ input that gets the project back on track.
“You might be our best answer yet for how we might be able to do better,” she told taxpayers.
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