The purpose of the bay area transit finance plan was to determine the financial capacity of the region to fund a multioperator rail extension program into the next century. The 21 proposed rail extension projects were grouped into 5 alternative regional packages. The financial impacts of these alternatives were assessed against ongoing funding required to operate, maintain, and recapitalize the existing eight-operator regional transit system in the bay area. The cumulative financial position at the end of 10- and 20-year periods was calculated for each transit operator and the entire region from a microcomputer-based cash flow model. The cash flow model integrated annual operating csts and revenues, vehicle and facility replacement, rail extension capital costs, and projected funding from dedicated existing sources as well as proposed new revenue sources. It was determined that the region had the financial capacity to operate, maintain, and recapitalize its existing transit system. However, it was found that the region would experience a cumulative deficit of $1.1 Billion at the end of 10 years if the regionally preferred rail extension program was implemented, unless additional revenues could be made available. A series of funding recommendations were proposed that were consistent with proposals being advanced at state and county levels and, if implemented, would eliminate the 10-year cumulative deficit. These proposals have subsequently either been enacted or are in the process of being enacted into law. This paper appears in transportation research record no. 1266, Urban public transportation research 1990.
Samenvatting