Virginia's Metro board rep says transit systems $300 million shortfall could double by 2019
Last edited Fri Mar 17, 2017, 04:41 PM - Edit history (1)
Virginias Metro board rep says transit systems $300 million shortfall could double by 2019
Friday, Mar. 17, 2017 by Sydney Kashiwagi, skashiwagi@virginianewsgroup.com
If you thought the numbers were high already, it looks like things could get worse for Metro. ... Virginias representative on the Metro (WMATA) Board, Second Vice Chairman Jim Corcoran, said Thursday during a State of Transportation event in Loudoun County that the transit systems nearly $300 million fiscal 2018 operating shortfall could double by 2019.
If things dont change, it will be impossible, Corcoran said. Were at $300 million this year ... but next year its going to be $500-$600 million.
Last week, the Metro boards finance committee approved General Manager Paul Wiedefelds proposed operating budget that includes service cuts and fare hikes. The full board is expected to take a final vote on that budget later this month. ... If Corcoran's predictions are correct, the increase would come just a year before Metro comes to Loudoun in 2020.
Corcoran, who is also the CEO of the Fairfax County Chamber of Commerce, told the Times-Mirror that Metros year-long SafeTrack maintenance program is one of the main culprits of the budget woes. He said the transit authority "overspent" its long-term budget capacity with the recent SafeTrack initiative. ... For next year, that bonding capacity is not there, he said.