As explained in public documents and at open government meetings, creating a dedicated stream of property tax revenue not only would help ATP fund pay-as-you-go engineering and construction costs, but also cover payments on borrowed money. Using debt to finance construction costs was a core component of Project Connect. "That was all set forward in a very transparent manner leading up to the vote." "People knew there would be bond debt associated with financing and then delivering Project Connect," said Casey Burack, an executive vice president at ATP who oversees business and legal affairs.
Proponents of the transit expansion scoffed at the legislation, saying voters already authorized borrowing when they approved the Project Connect ballot proposition by a margin of 16.5% in an election with more than 420,000 votes. Ellen Troxclair says if cities and counties have to hold bond elections, then local government corporations like the Austin Transit Partnership should have to hold them, too. The Project also includes the purchase of 20 new light rail vehicles (“LRVs”), as part of a planned 122 LRV purchase program by the Applicant, as well as train control and signals, communications, traction power supply and distribution, and fare collection systems and equipment.KUT State Rep. The Project will include construction of three new stations, and 1,200 new parking spaces. Operating in an exclusive right-of-way, the Project generally parallels Interstate 5 on an elevated or at grade alignment. It will serve population, employment and education centers and provide opportunities for transit-orientated development. The Project will operate as the southernmost segment of the Sound Transit’s north-south light rail line and offer connections to numerous local and regional bus lines, including some of the region’s bus rapid transit lines. The Project consists of the construction a 7.8-mile extension of Sound Transit’s light rail network from the Angle Lake Station to the Federal Way Transit Center in south King County.
0 kommentar(er)
