Saturday, May 15, 2004
State Trickles Funds to BART Extension
The Governator promised $18 million to fund the BART extension to San Jose on Thursday. Davis originally earmarked $760 million, which prompted voters to approve additional sales tax to supplement the State's promised grant in 2000.
With the estimated cost of building the BART extension at $4.1 billion, $18 million is a drop in the bucket. It is just 2.4% of the original amount promised by the State and less than one half of one percent of the total estimated cost of the project.
Half the money is expected to come from local sales tax revenue. The rest must be secured from state and federal funding. It is clear that the state cannot contribute a significant amount to the project.
The federal government has given the BART extension to San Jose one of the lowest ratings of any project proposed in the country. This makes it unlikely that federal funds will be forthcoming.
Yet VTA still holds out hope that the federal government will fund the project. However, now VTA must not only convince Washington to fund it, but to fund it with even more money than would have been necessary if the state were able to contribute to it in a meaningful way.
VTA continues to insist that the BART extension must be built. To do so means that VTA will have to cut or push back funding for other projects. Eventually, without enough money to go around, VTA will have to cut or subcontract its bus service.
That will mean more layoffs and labor contract negotiations.
With the estimated cost of building the BART extension at $4.1 billion, $18 million is a drop in the bucket. It is just 2.4% of the original amount promised by the State and less than one half of one percent of the total estimated cost of the project.
Half the money is expected to come from local sales tax revenue. The rest must be secured from state and federal funding. It is clear that the state cannot contribute a significant amount to the project.
The federal government has given the BART extension to San Jose one of the lowest ratings of any project proposed in the country. This makes it unlikely that federal funds will be forthcoming.
Yet VTA still holds out hope that the federal government will fund the project. However, now VTA must not only convince Washington to fund it, but to fund it with even more money than would have been necessary if the state were able to contribute to it in a meaningful way.
VTA continues to insist that the BART extension must be built. To do so means that VTA will have to cut or push back funding for other projects. Eventually, without enough money to go around, VTA will have to cut or subcontract its bus service.
That will mean more layoffs and labor contract negotiations.
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