Contact: Carolyn
Marinan, Communications, 612-348-5969
Hennepin County will increase its funding commitment to the Southwest
Light Rail Transit project, helping to bridge a funding gap left by the Minnesota
Legislature.
Acting as the Hennepin County Regional Railroad Authority, the
Hennepin County Board voted Tuesday in a special meeting to increase its share of
the project by $20.5 million, for
a total funding commitment of $185 million, or 10 percent of the project’s
capital costs.
Combined with a similar proposed increase by the Counties
Transit Improvement Board and a promise by the Metropolitan Council to raise
$103.5 million in Certificates of Participation – a financing tool used
previously by the Met Council and the state – the
county’s additional infusion is helping the project bridge the $144.5 million funding
gap left by the state, and fulfilling the federally mandated local share. In
previous years, the Legislature has contributed some funding to this project, about 1 percent.
The Metropolitan Council has indicated it will wait until
July 2017 to issue the certificates, in hope that a different session of the
Legislature will be able to move the funding forward.
Shouldering the state's share
Regional Railroad Authority Chair Peter McLaughlin agreed
with comments from others on the board that it was unfair for the county to
have to shoulder what should have been the state’s share.
“This is not a perfect solution but it reflects a willingness
by local government to act after legislative inaction,” he said. “Today’s vote
keeps the project moving forward, it avoids costly delays, and it nails down
missing pieces needed for the federal application that will bring more than $900
million to Hennepin County.”
This action, coupled with tomorrow's votes at CTIB and the Met Council ensure that the project can move forward to
request matching funds from the Federal Transit Administration.
Bringing value to the region
The value of a well-integrated transit system – cars, buses, trains – exceeds the investment, in terms of connecting people with jobs,
improving the environment and increasing economic competitiveness, said County
Board Chair Jan Callison.
“I don’t think the state of Minnesota can buy those
advantages for $144 million with anything but transit,” she said.
Already, 90 percent of the engineering and design is
complete for Southwest Light Rail Transit, which runs from downtown Minneapolis
to Eden Prairie. Construction is scheduled to begin in 2017. The project is expected to begin passenger service as an
extension of the METRO Green Line in 2021.
The Counties Transit Improvement Board and the Metropolitan Council will vote on their
increased shares later this week.
Read the resolution.
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