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Since APTA's last quarterly report, the Federal Transit Administration has updated the SOGR for the public transit industry which has increased to $90 billion.
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In November, voters approved a $3.5 billion bond measure to rehabilitate BART, however, declining revenue and rising costs mean the agency could face a $25 million to $45 million operating deficit in the coming budget year.
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While setting a record for both number and dollar amount being sought in 23 different states, voters continued a trend by passing 70% of referendums in 2016. While not all are successful, having a leader to be a champion and intense community education and outreach programs are key.
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The move would allow members of the Counties Transit Improvement Board to levy more local taxes for transit, allow each the flexibility to jump-start projects, and depend less on the State Legislature for funding.
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The second phase of the 2.5-mile expansion will improve circulation and transit connections; support economic revitalization; provide access from economically diverse neighborhoods to Uptown Charlotte; and more.
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The Beyond Traffic 2045 report is a comprehensive study of the major trends that will shape our nation’s transportation system over the next thirty years.
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Transportation Secretary Anthony Foxx launched the Build America Bureau earlier this year to provide a one-stop-shop for state and municipal governments to find innovative solutions to funding critical infrastructure projects.
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Board members approved funding plans for the Central Valley and San Francisco-San Jose segments, as well as authorizing the issuance of a “request for qualifications” from potential train-operating companies.
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The $477 million sale consisted of fixed-rate bonds at a total interest cost of 3.596%. The favorable rate is significantly lower than the 5.3% average over the last 30 years.
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Though TEB inventor Song Youzhou has insisted the company is still operating normally, sources told China’s The Paper that a major TEB investor has now cut off further funds.
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