Re: Monorail Resignation Letters
Tom Weeks and Joel Horn just don’t get it. (“Though we tried to explain the complex, long-term financing proposal, and called for apples-to-apples comparisons with other major regional transportation projects…”) The problem with the monorail is not that the public’s PERCEPTION of the monorail’s $11 billion price tag ($2 billion, plus $9 billion in interest) is wrong. The problem is that the price is TOO GODDAMN HIGH. All this talk of “apples to apples” comparisons (the monorail can’t be compared to Sound Transit because it plans to operate without a subsidy after 2020; it’s unfair to consider interest costs over 50 years; no one every talked about interest payments before, etc.) doesn’t change the fact that the finance plan Horn and Weeks call “confusing” costs three times what a $2 billion project should cost using a conventional financing scheme. Weeks and Horn were right to resign. It’s a shame that they couldn’t resist shifting the blame for the current debacle onto the media and the taxpayers who paid Horn’s $187,000 salary.