The Denver Post reports today that the price tag for Regional Transportation District (RTD)’s taxpayer-funded FasTracks plan has jumped again:
The price of the FasTracks rail expansion â€” if it is to be completed by 2017, as promised to voters â€” has jumped from $6.1 billion to $7.9 billion, according to officials familiar with RTD’s latest analysis of the program.
Approved by voters in 2004 for $4.7 billion, estimates later rose to $6.1 billion – a 30 percent increase. Now they have skyrocketed to $7.9 billion, nearly 70 percent higher than original estimates. According to the Post, RTD either has to narrow the scope of the project, delay its implementation, or ask for more tax money:
Centennial Mayor Randy Pye, who heads the 37-member Metro Mayors Caucus, said Wednesday that “the option of a tax increase is not palatable to the mayors.”
Visit the Independence Institute’s Center for the American Dream to learn about the problems and cost of FasTracks, which also includes the “Human Cost of FasTracks”:
$7.9 billion …. Now what?