FasTracksmay get infusion of federal money
$60 million more may be on way to enhance project
By Kevin Flynn, Rocky Mountain News (Contact)
Published July 1, 2008 at 12:05 a.m.
The Denver Regional Council of Governments is considering pumping $60 million more of federal assistance into the over-budget FasTracks program's later years to fund parts of the projects desired by local communities.
If approved by the DRCOG board, it would result in another $7.4 million for the West Corridor light rail, under construction from Denver through Lakewood to Golden.
The issue was kicked off by a joint request from the Regional Transportation District and Jefferson County for $7.4 million in funding to expand the planned parking facility at the West Corridor's end-of-line station at the county's government complex.
According to a report from DRCOG's Transportation Advisory Committee, the money would come from the agency's allocation of annual federal funding to the Denver metro area's Transportation Improvement Program from 2012 through 2019.
Existing TIP funds are fully allocated through 2011, meaning no new federal funds could go to FasTracks through that formula until the following year.
Several years ago, DRCOG agreed to allocate an initial $60 million to the program, and so far has committed $28 million.
The funding isn't much when compared with the significant increase in FasTracks program costs.
Originally budgeted at $4.7 billion, it grew to $6.1 billion last year and is expected to increase again sometime this month.
RTD puts most of the blame on significant and unforeseen spikes worldwide in the cost of construction materials, particularly steel for rails and structural steel for bridges.
The costs of copper and concrete also have risen.
flynnk@RockyMountainNews.com or 303-954-5247
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