Upstairs at Caroline
Everybody Benefits
RECEIVED Fri., Oct. 16, 2020
Dear Editor,
Proponents minimize Project Connect costs, describing these tax revenues as an insignificant slice of TOTAL property tax. Actual cost example for a $500,000 home with a modest 6% annual appreciation yields a 15-year $10,711 payment - for starters. If Proposition A is passed, a partnership of five people will have carte blanche in managing these project funds, to include property condemnation powers.
Despite 39% of commuters living outside of Travis County, no funding has been made available by any regional source - only city of Austin property taxpayers. Cap Metro states an expected 45% federal contribution toward the $7.1 billion price tag. To what degree these revenues will materialize is unknown. Inevitable cost overruns and unaccounted expenses are excluded from the estimated budget.
Bus fleet electrification, expanded routes, neighborhood circulators, park & rides will serve our commuters well - funded by a $500 million bond. And for TRUE affordable housing, a separate bond. Everyone benefits.
Proponents minimize Project Connect costs, describing these tax revenues as an insignificant slice of TOTAL property tax. Actual cost example for a $500,000 home with a modest 6% annual appreciation yields a 15-year $10,711 payment - for starters. If Proposition A is passed, a partnership of five people will have carte blanche in managing these project funds, to include property condemnation powers.
Despite 39% of commuters living outside of Travis County, no funding has been made available by any regional source - only city of Austin property taxpayers. Cap Metro states an expected 45% federal contribution toward the $7.1 billion price tag. To what degree these revenues will materialize is unknown. Inevitable cost overruns and unaccounted expenses are excluded from the estimated budget.
Bus fleet electrification, expanded routes, neighborhood circulators, park & rides will serve our commuters well - funded by a $500 million bond. And for TRUE affordable housing, a separate bond. Everyone benefits.
Stephanie Ryan