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Austin Voters Approve $7B Transit Plan
The City of Austin said residents had voted in favor of Proposition A, which provides funding via property taxes for Project Connect, Capital Metro’s $7.1-billion public transit plan. By approving Prop A, voters have ensured that the initial investment of Project Connect will be completed, according to the city.
“With the passage of Prop A, voters have given the green light to a once-in-a-generation opportunity to revolutionize our transportation infrastructure,” said Austin city manager Spencer Cronk. “Project Connect will be better for our residents’ health, environment, safety and prosperity.”
The city expects to receive federal funding for approximately 45% of the project’s total cost. CapMetro is also allocating its Capital Expansion Fund to the project.
The property tax revenue will provide the rest plus operations and maintenance of the transit system once it is built, according to the city. Also included in the initial investment is $300 million for anti-displacement housing strategies.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
