October 6, 2008 at 11:50 am

Seattle Times: $107 billion figure is false

The Seattle Times’ Mike Lindblom has an article calling out MacIsaac’s misleading $107 billion figure the ‘No’ campaign uses:

So where did opponents get such an inflated number, and is it true?

Not according to Sound Transit: “The clear intent is to suggest that the costs … are far, far beyond what they really are,” says transit spokesman Geoff Patrick.

It turns out the $107 billion is not really a cost estimate.

It is mathematical conjecture by Jim MacIsaac, a semiretired Bellevue engineer and longtime rail-transit critic. Using the agency’s growth and inflation factors, he calculated the amount of tax dollars that Sound Transit could collect from 2009 to 2053, should voters pass Proposition 1.

Such a scenario, however, assumes catastrophic cost overruns, junk financing and zero political intervention if the agency ran amok.

Also, MacIsaac’s estimate includes billions already earmarked for transit projects voters previously approved, including a rail tunnel to Capitol Hill and Husky Stadium. Regardless of the Nov. 4 vote, those are scheduled to open in 2016 using existing sales and car-tab tax.

The article is still far from positive on ST and Light Rail, but this is a big step in the right direction for the Times.

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Comment by John Jensen
2008-10-06 23:09:56

If you run into the $107b number, feel free to link to or quote from this:
http://www.masstransitnow.org/the-myths/#costs107b

 

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