Mon May 21, 2012
City Council Considers Urban Rail (and How to Fund It) Tuesday
Austin’s urban rail plans will take a major step tomorrow when a preliminary funding and phasing plan will be outlined during an Austin City Council work session.
The Austin Transportation Department sent out a memo last Thursday outlining initial phases of investment for urban rail.
The first proposed phase would serve Downtown, the Capitol Complex, UT, Hancock Center and Mueller. Phase Two would cross the river and head down Riverside Drive to Pleasant Valley.
The city envisions a rail funding package of federal, private and public funds, and may seek to obtain major funding in the November bond elections. A conceptual funding plan will be outlined at the council work session tomorrow, 9 a.m. at City Hall. Proposals for an initial financial investment will be made at the following work session, May 29.