Quote:
Originally Posted by electricron
I still wonder where CapMetro could find the funds to build the entire $1.9 Billion 2000 light rail plan.
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I've been avoiding answering this because it was adressed to M1EK, and I attempted to answer it previously. M1EK has a tendency to jump all over anyone who challenges him in any way, and has refused to answer you. In the interest of trying to keep this thread alive and civil, I will offer this. It might not answer every question because I don't have time to do all the research and math - but here goes.
Cap Metro never had sufficient resources to fund the entire 52 mile / 1.9 B plan, and never represented as much as far as I know. The 2000 election was simply to authorize Cap Metro to build and operate light rail, it was not an election on bonding as is typical in most cities. Since Cap Metro is unique in Texas in having to seek this authorization from the electorate, they decided to ask for permission to build their entire long range plan, not just the Locally Preferred Alternative / Minimum Operable Segment (LPA/MOS) as is typical.
I don't believe M1EK ever suggested otherwise. In fact, he posted information about the LPA/MOS that was still under development at the time of the election.
In 2000, Cap Metro had sufficient reserves to build an LPA/MOS from Howard Lane to Downtown provided they could receive 80% Federal Match, without needing a bond election. This lead many people to believe Cap Metro was rich and sitting on funds to build light rail that the electorate officially rejected (even if it was by less than 1%).
After the election, Cap Metro created the 1/4 cent program to ward off rumors that the Legislature would strip them of 1/2 cent or more, which would not even allow them to operate their current bus system.
This, combined with the FTA maximum match being reduced to 50%, meant there wasn't even sufficient money to build all the way to Howard Lane. When the PE/EIS resumed, the MOS was shortened first to Braker & MOPAC, and eventually to Anderson / Lamar, with the introduction of commuter rail to Leander to make up for the shortcomings.
The light rail MOS died on the vine prior to the 2004 election. At the time, just uttering the term light rail caused huge controversy, which is why Cap Metro rebranded the Red Line Urban Commuter Rail. (Yes, M1EK in most respects it will be more like traditional commuter rail when it opens, but has the potential to function more like light rail as it is upgraded - truly a hybrid. It's not perfect, and not as good as the 2000 MOS, but it is what we have to work with at the moment - so why not make the best of it?)
In reality, had Cap Metro kept the reduced MOS as part of All Systems Go! LRP, which was a risk going into the 2004 election, they could not have afforded to build it - as should be obvious to everyone by now.
I sincerely doubt an 8 mile, 100% in street light rail line would have received any Federal funding under the revised FTA funding formulas, and Cap Metro could not self finance like Houston did. It would have cost about 5 times the amount of the Leander line. Houston's corridor has significantly higher density along most of its length, and they could not muster enough political support against some very hostile political opponents, so I'm not sure how Austin would have.
I hope that helps, and doesn't fan the flames too much.