News More Sprawling Contradictions…
posted by June 15 at 13:37 PMon
And here’s another ass backwards thing about the $17 billion light rails/roads package: the $972 million we’re spending on 520. In order to raise the necessary dough so that RTID won’t be seen as raising taxes for nothing (it’s more like a $3.9 billion to $4.4 billion project) the RTID folks talk about tolling—$1.2 billion in tolling, to be exact.
But wait, in order to hit get to $1.2 billion they upped the traffic numbers on 520 by 28% from their initial tolling and revenue projections over the same time period.
Huh? Isn’t this road expansion all about easing congestion? Upping traffic by 28% sounds to me like they want it both ways. Are they adding capacity to ease congestion or cater to more cars? And isn’t tolling supposed to decrease the number of drivers?
This revelation from RTID makes it clear what this package is all about.
From the PI:
[RITD] initially assumed it would raise $700 million from tolls over a 30-year bond repayment period. Staffers now think the amount could be at least that much but as high as $1.2 billion based on predictions that evening peak traffic on the bridge will be 28 percent greater than previously thought.
Oh, and ECB asked RTID what the 28% increase was based on and RTID did not provide any justification for the assumption.