Rail stories

Realty Check

Today’s St. Pete Times referred to the failed Tampa Choo-Choo as a “1-cent” project and the failed Tampa-Orlando Choo-Choo as a “$2 billion” project.

The proposed (and rejected) Tampa Choo-Choo would have cost nearly $2 billion also.
Add up the costs of
1. Construction,
2. Operating expenses,
3. Maintenance and
4. Capital depreciation (things wear out and need to be replaced)
Oh, and don’t forget debt service. Whichever government builds rail, will borrow the money up front in the form of municipal bonds that will be paid back over a period of about 30 years.

Between one and two billion dollars in bonds were projected to be sold to fund light rail. The County of Hillsborough already has a one billion dollar debt, costing taxpayers $40 million per year in interest alone.

Let’s compare lemons with lemons.

<IMHO> Fred


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