DENVER—A report is raising concerns that some Denver area taxpayers might not see the expanded train service their money has gone toward, unless the Regional Transportation District changes its approach to its FasTracks program.
FasTracks would boost mass transit, in part with new train lines. Metro Denver voters agreed in 2004 to add a 0.4 percent sales tax to one that RTD collects to help pay for FasTracks, but construction costs have been higher than expected while tax collections have been lower than predicted.
RTD needs $2 billion in extra revenue for the project.
It is banking on getting $1 billion from the federal government and $950 million from a public-private partnership. It has said it also may need voters to approve a sales tax hike for FasTracks, whose overall costs have been estimated at nearly $7 billion.
A BBC Research & Consulting report questions whether all the revenue sources will materialize. The report says lines to the north metro Denver area are scheduled to be among the last built, so those communities carry the risk of not seeing a return from their tax contributions.
The report was commissioned by the North Area Transportation Alliance, representing cities and businesses in the north metro area.
RTD spokesman Scott Reed said Monday that the report is based on old numbers, and a new financial analysis on FasTracks is coming out next month.
On Tuesday, RTD plans to mark a $118 million purchase of railroad property from Union Pacific Railroad for a northern portion of FasTracks.
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Information from: The Denver Post,
