Cap Metro

DAA to Cap Metro: That’s not what the money is for

Austin Business Journal - by Kate Harrington Staff writer

The Capital Metropolitan Transportation Authority is nearing its annual budget vote, and at least one Austin group is unhappy about a proposed budget balancing measure.

The Downtown Austin Alliance has voiced concern over Cap Metro’s proposal to use $2.6 million in federal stimulus funds - 10 percent of the stimulus funds the agency received this year - from use on its Red Line MetroRail into the general fund.

According to Adam Shaivitz, a Cap Metro spokesman, Cap Metro has also considered either implementing service cuts or accelerating a planned rate increase from next August to January. The proposal to use part of the stimulus funds would mean the agency would not have to resort to earlier fare increases or service cuts, Shaivitz said, but emphasized that nothing is yet set in stone. Shaivitz said the stimulus money is slated for Red Line improvements down the road, and that if $2.6 million were to go toward balancing the budget, it would not mean additional delays for the rail line.

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via Austin Business Journal

Community Action Network

Capital Metro has developed a balanced budget for Fiscal Year 2010 that avoids a January fare increase with the use of $2.6 million in federal stimulus funding. Capital Metro will hold a Public Hearing on the Proposed FY2010 Budget on September 21st at 5 p.m. in the Capital Metro headquarters, 2910 E. 5th Street.  The Board is scheduled to adopt the budget on September 28th. Visit www.capmetro.org to learn more.

via Community Action Network