FasTracks Hitting Fiscal Bumps in Denver

Denver's FasTracks light rail system was set to be the nation's most aggressively constructed transit system when it was approved in 2004. But five years into the 12 year plan, budget issues and delays are calling the system's future into question.
November 10, 2009, 6am PST | Nate Berg
Share Tweet LinkedIn Email Comments

Originally planned under a budget of $4.7 billion, the 122-mile system is seeing costs rise and timelines fade.

"Projected costs have ballooned to nearly $7 billion, and the system faces a budget gap of $2.2 billion, mainly because of a sharp drop in sales tax revenues. Worse still, most rail lines are still on the drawing board, and the 10,000 or so workers needed when construction reaches full swing beginning in 2011 have not yet been hired, muting the economic stimulus.

Voters could be presented with a proposed sales tax increase as early as next year to finish a system that remains mostly an idea."

Full Story:
Published on Thursday, November 5, 2009 in The New York Times
Share Tweet LinkedIn Email