Tuesday, June 12, 2012

Strapped Tri-Met to borrow a cool $111 million

The sleepy board of directors of Portland's troubled transit agency prepares to hock its future payroll tax revenue for the Mystery Train to Milwaukie, and some other things:
Portland Milwaukie Light Rail Project: $40 million
Bus, Rail and LIFT Communications System and Bus Transfer printer: $34 million
New Buses: $23 million
Ticket Vending Machine and Bus Farebox Upgrade: $6.7 million
WES Positive Train Control: $3 million
Maintenance of Way Central Facility: $3.3 million
Estimated Costs of Issuance: $1 million
The resolution authorizing the borrowing will go down tomorrow morning.

1 comment:

Michael Conner (trimet employee) said...

Gotta love the idea of spending 3.3 million dollars on a new maintenance of way facility when for decades they have operated out of modern facilitis where all the stores parts are kept. Only trimet management would think its a great idea to move the personnel to a white elephant old asbestos laden building where crews will have to travel 25 miles to get to their parts and supplies.