Post by Logan on Dec 19, 2016 2:48:15 GMT -6
Local governments alarmed as Metro says it needs an extra $1 billion over 3 years
Metro General Manager Paul J. Wiedefeld has spent much of his first year studying how much it will cost to fix the region’s transit system. The price tag is a lot higher than local government officials say they expected or can afford.
The total additional cost for the District, Maryland and Northern Virginia to fulfill Wiedefeld’s goals to improve safety and reliability over the next three budget years exceeds $1 billion, according to new Metro forecasts.
That includes a hefty 36 percent increase between now and 2020 in the annual subsidy the three jurisdictions pay to cover Metro’s operating deficit. It also represents a jump of nearly $600 million from the April forecast for how much the governments contribute for capital investments, such as new rail cars and track repairs.
Metro expects to seek larger annual operating subsidies partly because Wiedefeld sped up spending under the accelerated maintenance program known as SafeTrack. In addition, fare revenue is down because of lower ridership.
Read more: www.washingtonpost.com/local/trafficandcommuting/local-governments-alarmed-as-metro-says-it-needs-an-extra-1-billion-over-3-years/2016/12/17/6ceaa420-c3ce-11e6-9a51-cd56ea1c2bb7_story.html
Metro General Manager Paul J. Wiedefeld has spent much of his first year studying how much it will cost to fix the region’s transit system. The price tag is a lot higher than local government officials say they expected or can afford.
The total additional cost for the District, Maryland and Northern Virginia to fulfill Wiedefeld’s goals to improve safety and reliability over the next three budget years exceeds $1 billion, according to new Metro forecasts.
That includes a hefty 36 percent increase between now and 2020 in the annual subsidy the three jurisdictions pay to cover Metro’s operating deficit. It also represents a jump of nearly $600 million from the April forecast for how much the governments contribute for capital investments, such as new rail cars and track repairs.
Metro expects to seek larger annual operating subsidies partly because Wiedefeld sped up spending under the accelerated maintenance program known as SafeTrack. In addition, fare revenue is down because of lower ridership.
Read more: www.washingtonpost.com/local/trafficandcommuting/local-governments-alarmed-as-metro-says-it-needs-an-extra-1-billion-over-3-years/2016/12/17/6ceaa420-c3ce-11e6-9a51-cd56ea1c2bb7_story.html