Metro delays upgrades to cover critical repairs Washington Business Journal, Washington, DC -5/9/2008
Friday, May 9, 2008 - 8:43 AM EDT
Metro delays upgrades to cover critical repairs
Washington Business Journal - by Tierney Plumb Staff Reporter
Metro will delay $109 million in planned upgrades to cover costs of critical repairs, according to John Catoe, general manager of the transit agency.
"We have re-prioritized our capital projects and shifted funds to more pressing projects over the next two years," Catoe told the agency's board Thursday.
Immediate priority will be given to deteriorating platforms and worn out track fasteners to help prevent fires and water damage to electric cables.
Even with the new funding plan, Metro is falling short.
In March officials announced that $489 million is needed for critical repairs to maintain a safe and reliable rail and bus system.
Agency officials plan to ask the board for approval to borrow up to $48 million to help pay for the most critical projects, and the $157 million generated from deferring projects and borrowing would keep the transit system in a state of good repair. In addition, $12 million would be used to comply with safety recommendations.
But the delay on planned upgrades for elevators, escalators, parking lots, tracks, stations, tunnels and bridges doesn't mean the work will completely stop.
"The work will still go on," Catoe said. "But from a planning standpoint, some programs are slowing down to pay for others."
Metro still needs $332 million over the next six years to pay for urgent capital needs, such as continued track work and power upgrades.
The source of that money is unclear. State and local governments, the main funders of the capital projects, are facing budget shortfalls and Catoe is looking for more federal funding. A bill is stalled in the Senate that would authorize $1.5 billion in federal funding over 10 years.
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