DENVER (AP) - Democratic Gov. Jared Polis said Wednesday that the Regional Transportation District must build its promised rail line from Denver to Boulder and Longmont, despite an expected budget shortfall caused by the coronavirus.
The agency has estimated a $1.3 billion budget shortfall through 2026 that would likely cut some services, agency officials said. The rail line project is estimated at $1.5 billion.
“The train has to come. It was part of the 2004 ballot initiative,” Polis said, referencing the FasTracks vote that approved a tax increase for a massive rail expansion. Another vote is required to alleviate the agency of its obligation.
The FasTracks program originally envisioned the construction of more than 120 miles (193 kilometers) of rail lines by 2017 for $4.7 billion but has planned cutbacks after accruing debt from some loans, Colorado Public Radio reported.
“Our financial position wasn’t really fabulous to begin with,” board member Claudia Folska said, referencing economic impacts from the Great Recession from 2007 to 2009. “The pandemic has taken it to a completely different level, but we’ve been struggling with this for a long time.”
An independent accountability committee was announced Wednesday and was tasked with recommending solutions to the Regional Transportation District and rebuilding trust with its constituents.
“There’s a lot of angry taxpayers who have been paying for service since 2004, and the service is not on the horizon,” Polis said.
Others have disagreed with pursuing the project and have said doing so would compound the problems.
“Borrowing to finance the FasTracks expansion was incredibly irresponsible,” said Ben Fried, a spokesman for TransitCenter, a research and advocacy organization. He argued that legislators should focus on restoring the agency’s operating budget.
He added: “That is where all the political energy needs to be channeled. More debt-fueled capital expansion is dead wrong right now.”
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