07-26-2022, 04:25 PM
(07-26-2022, 03:54 PM)danbrotherston Wrote: The transit hub isn't stalled due to lack of funding...it's stalled due to lack of priority. We had plenty of money to spend on the airport.
This really isn't accurate. The budget that matters here isn't total expenditures, it's how much do property taxes increase. The airport is revenue generating (airport improvement fees, landing fees, commercial tenant rent, etc), and those revenues are approximately equal to the cost of expansion.
If the transit hub would generate enough revenue to pay for itself the regional could easily issue the debentures for it, but if it requires property tax increases that's where the hesitation comes from.
The airport expansion also is about 1/3 of the upfront cost as the transit hub, so even ignoring revenues your comparison isn't accurate.