FasTracks: $1.5 billion over budget

Kevin Flynn, Rocky Mountain News

Published May 18, 2007 at midnight

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FasTracks, approved by voters three years ago at $4.7 billion is now pegged by RTD at $6.2 billion, according to figures released today.

The new bottom line is the result of four months of recalculations of costs, construction schedules, financing options and additions to the FasTracks program.

RTD General Manager Cal Marsella said today the agency can still deliver the basic program promised to voters but will have to cut elements of the projects, and consider handing over some routes to private companies.

RTD blamed much of the increase on unexpected spikes in the cost of basic construction materials. But there is also additional work on some of the rail corridors that has swelled the scope of the projects from the original plans.

For instance, the train from downtown to Denver International Airport was originally to be diesel-powered with five stations along the way. But now it's envisioned as electrified commuter rail with eight stations, a proposal that emerged during public discussions.

The cost of that line, the East Corridor, has gone up correspondingly, from $702.5 million to more than $1.1 billion.

The FasTracks program includes 119 miles of new rail transit spread among six new corridors and extensions to three existing ones, 18 miles of rapid bus service in a dedicated lane on the Boulder Turnpike, renovations to Denver Union Station and improvements to bus service.

Voters approved a 0.4-cent increase in the transit sales tax in November 2004 to fund it.

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