FasTracks Funding Gap Grows to $2.5 Billion in Denver
The Denver Regional Transportation District is forecasting an increasing gap between what it will cost to complete the region's FasTracks light rail system and how much taxpayer money will be available to fund its construction.
"RTD also is using a lower forecast for sales-tax collections, which are a key component of the revenue stream that will pay for FasTracks, the nation's most ambitious mass- transit expansion program.
The agency now is forecasting that it will have about $4.2 billion available from tax collections, federal funds and other sources to build the project by 2017 unless metro Denver voters approve a doubling of the existing 0.4 percent FasTracks sales tax in November.
Last year's revenue forecast was $4.8 billion."
RTD expects to be about $2.5 billion short of what it needs to complete the system by 2017.
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Published on Wednesday, January 6, 2010 in
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