RTD staff made the rounds over the past month or so at public hearings to explain the current shape of the FasTracks budget and its implications for build-out of the planned system.  The picture isn’t pretty, as detailed in the following Board meeting presentation: http://www.rtd-fastracks.com/media/uploads/main/2008_FasTracks_Board_Presentation_8-21-08.pdf.  This presentation depicts the worst-case scenario, which we know will fluctuate as commodity prices and sales tax revenue receipts respond to evolving global and local economic conditions.  But the basic principles aren’t likely to change significantly . . . meaning there is a significant gap between the planned FasTracks investments and the ability to finance them. 

How to overcome this gap was the subject of the recent public hearings.  Many were concerned that the options RTD staff offered at the hearings are unacceptable and seem to drive participants to the conclusion that seeking additional revenue, most likely through another tax initiative, is the only logical response.  To be clear, I am not there yet and want to make sure we are exploring all potential options before taking such a dramatic step.  This will entail a test of the worst-case circumstances that RTD staff has presented and a thorough review of all that is feasible to accomplish within the financial constraints.

In the meantime, my priority focus is on a solution that preserves a fair share of the FasTracks resources for the northwest region, particularly Boulder County.  I will then work with the elected leaders and citizens in our corner of the Denver region to determine the transit investments that provide us with the most effective service enhancements, while preserving opportunities to secure full build-out of the FasTracks vision if additional financial resources are not forthcoming.  These recent articles in the Boulder County Business Report and the Daily Camera further elaborate on my current position while effectively capturing the extent of the FasTracks implementation challenges: http://www.bcbr.com/article.asp?id=96797 and http://www.dailycamera.com/news/2008/sep/25/fastracks-faces-tough-road/. 

The focus for the current conversation regarding FasTracks is a pending decision on funding commitments for the East and Gold rail lines, slated for some time in March of 2009.  The direction my RTD Board colleagues and I take on those lines likely will set the future course for the entire FasTracks program.  Given the gravity of this vote, therefore, I will be reaching-out during the intervening period for guidance on how best to move forward.  At stake is our shared expectations for the shape of transit service in Boulder County.  So, please continue to offer your input throughout this evaluation period.