AUSTIN (Talk1370.com) -- A massive $7 billion investment into Austin's transportation systems is one step closer to the November ballot.
Austin City Council members and Capital Metro's board approved a reduced plan for Project Connect during a joint meeting Monday, after Cap Metro officials expressed reservations of putting the full $10 billion package before voters given the economic impact of the coronavirus pandemic.
The 8.75 cent tax rate, which received a unanimous vote from the council, would fund $3.85 billion of the project's costs, or roughly 55 percent. Based on a median home value of $325,000, it would mean about $285 a year extra on property tax bills.
Officials hope to receive federal and state funding, and explore public-private partnerships for the remaining 45 percent of the project.
"I’m excited about moving Project Connect forward with both an initial and smaller overall impact to Austin property taxpayers. It’s the right decision to lower taxpayer cost while still pursuing the entire #ProjectConnect rapid transit system," Austin Mayor Steve Adler tweeted. "At the 8.5 cents level, we will leverage future matching funds from federal, state, regional, and private sources. Combined with [Capital Metro>'s ongoing financial commitment, this will still enable our community to build, operate, and maintain the entire proposed system."
Capital Metro CEO Randy Clarke applauded the vote on Twitter as well, calling it "a moment to celebrate."
The reduced project would create two light rail lines - an Orange Line, that would run along North Lamar Boulevard and South Congress Avenue between Stassney Lane and U.S. 183; and a Blue Line, that would from Austin-Bergstrom International Airport into downtown Austin, where it would connect to the Orange Line.
Under the reduced scenario, the Gold Line would begin as MetroRapid, with the intent to convert to light rail services in the future. The Green Line would create an additional commuter rail service to connect Downtown to Colony Park, with potential extension to Manor and Elgin. The scenario includes 3 new, faster MetroRapid lines with priority treatments on Manor Road, Pleasant Valley and Menchaca Road and 15 neighborhood circulator zones. There will also be 3 new MetroExpress routes with 10 additional Park & Rides/Transit Centers and MetroBike integration.
"These challenging times require us to be flexible, remain thoughtful and continue to look for bold solutions to create the transportation system needed for our fast-growing region," Capital Metro Board Chair Wade Cooper said in a statement. "This is a truly transformational plan that will ease traffic and better connect everyone in our community to jobs, education and health care."
The extra quarter cent on the tax rate, from 8.5 cents to 8.75 cents, would increase the funding to prevent displacement along the transit corridors to $300 million.
The project now will fold into the City's ongoing budget process, with the tax election expected to be officially ordered on August 12-14 when the fiscal year 2021 budget is finalized and adopted.