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Old Posted Apr 26, 2010, 1:49 PM
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M1EK M1EK is offline
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Quote:
Originally Posted by electricron View Post
CapMetro raises $134 Million last year in tax revenues and $14.45 Million (144.5/10) in fares, and spends $144.5 Million (28.9 x 5) just maintain and run its buses. The only reason it isn't going broke is because CapMetro also receives $42 Million in Federal and State grants each year. Some math:
134 (taxes) + 14.45 (fares) + 42 (grants) - 144.5 (bus O&M) = $46 Million. Take train operations and maintenance and construction fees, and the City of Austin diversions, from that total; that doesn't leave CapMetro much money to build up its reserves or expand bus services.
This is quite a self-serving view of how Capital Metro got where they are (and from somebody pushing DMUs so hard, not that surprising).

1. CM didn't get $45M of Federal money they promised voters they'd seek before the 2004 election. They didn't even try to get it (they lied to the voters); the Feds would never have contributed one dollar because ridership projections were so low.

2. The "diversions" include planning for Austin's urban rail line - since Capital Metro won't deliver urban rail to Austin, ever, Austin finally got fed up and started doing what I tried to get them to do in 2004 with this resolution. Too little, too late; and now the city's actually going into debt on this project and a few others because Capital Metro isn't paying the bills they owe us.

3. The extra 2 years on commuter rail probably cost them another $50M, conservatively. And now we're stuck with high operating costs (thanks, diesel!, and thanks, shuttlebuses!) with almost nobody riding (why do you think they suddenly came up with a plan for a Saturday concert right about the time they have to release the first monthly ridership figures?)
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