HART February 2016 Financial Status Update
HART CEO and Executive Director Dan Grabauskas answers community questions about rail transit.
What are the major reasons the rail project's costs have gone up?
The recent projected cost increases are due in part to lengthy legal challenges and other delays. The delays have resulted in HART calling for bids in a time of dramatically rising construction costs, some of the higheset in the nation. In addition, GET revenue forecast for the project is running behind by about $40 million, and HART has pledged not to use federal funds that have been going to TheBus, which has left us short another $210 million originally budgeted for the project. The extension of the GET surcharge by five years will help HART meet the projected shortfall.