FasTracks Hitting Fiscal Bumps in Denver

Posted by: Nate Berg

10 November 2009 - 6:00am

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.

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: Grand Plans for Rail in Denver Hit a Wall of Fiscal Realities

Source: The New York Times, November 5, 2009