Sound Transit blames the gloomy forecast of a $3.9 billion shortfall on the loss of sales tax revenue from the current recession. Its only about 18 months since voters approved doubling the tax rate to fund expanding light rail, none of which will begin construction for 5-6 years. The idea that the current, hopefully short, recession could cause this funding problem for projects that far into the future is ridiculous.
Part of Sound Transit’s funding problems are due to higher than expected light rail costs which, with depreciation included, are significantly higher than comparable bus service. A far more serious long-term financial problem is light rail failure to attract riders.
Sound Transit had projected 107,000 riders for 2010. However, Central Link current ridership is less than 20,000, a level only achieved after Sound Transit forced Metro to drop very popular and more convenient competing bus routes. Loosing nearly 90,000 fares a day would create havoc with any revenue projections.
East Link backers should take note Sound Transit East Link promotions continue their farcical projections such as light rail increasing cross-lake commuter capability by 60 percent and will carry 50,000 riders daily. East Link does not have the capacity or the accessibility to carry more than a fraction of that number.
Bill Hirt, Bellevue