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Rail News: Passenger Rail
9/29/2010
Rail News: Passenger Rail
DART approves FY2011 budget, 20-year financial plan
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Yesterday, Dallas Area Rapid Transit’s (DART) board approved a $1.25 billion fiscal-year 2011 budget and updated 20-year financial plan that supports doubling rail service to 90 miles. The FY2011 spending plan includes a $422 million operating budget, $707.1 million capital budget and $127.4 million debt service budget.
The total budget is down from $1.6 billion in FY2010, primarily due to a lower capital budget as a result of the anticipated completion of the Green Line light-rail project in December.
The budget and financial plan fund ongoing construction of the Orange Line to Irving, Texas, and a Blue Line extension from Garland, Texas to Rowlett, Texas.
Other projects in the financial plan include the completion of the Orange Line to Dallas/Fort Worth Airport and the Blue Line extension in South Oak Cliff from Ledbetter Station to the University of North Texas-Dallas Campus.
Completion of those projects hinges on continued sales tax growth and contributions from a mix of project cost savings, increased debt and, if approved, additional federal funds, DART officials said in a prepared statement.
The total budget is down from $1.6 billion in FY2010, primarily due to a lower capital budget as a result of the anticipated completion of the Green Line light-rail project in December.
The budget and financial plan fund ongoing construction of the Orange Line to Irving, Texas, and a Blue Line extension from Garland, Texas to Rowlett, Texas.
Other projects in the financial plan include the completion of the Orange Line to Dallas/Fort Worth Airport and the Blue Line extension in South Oak Cliff from Ledbetter Station to the University of North Texas-Dallas Campus.
Completion of those projects hinges on continued sales tax growth and contributions from a mix of project cost savings, increased debt and, if approved, additional federal funds, DART officials said in a prepared statement.
