(Cross posted at Living in the O.)
I had a fun, lighthearted post planned for today, but thanks to BART, that will have to wait another day. Because shockingly, BART has gone and pissed me off once again. You might remember my post in February about the Oakland Airport Connector (OAC). If not, I’ll refresh your memory. The OAC is an absurdly expensive project that was basically dead due to lack of funding, but was revived when stimulus funds became available. Even though more than 100 people spoke out against applying $70 million of stimulus funds to the OAC, the MTC voted nearly unanimously (except Tom Bates) to fund the OAC.
Transit advocates were understandably upset by this vote, since Bay Area transit agencies desperately need those funds. But we held out some hope that this terrible project still might die and be revived into a cheaper and more useful Bus Rapid Transit (BRT) project. Why? Because even with the $70 million, BART was still about $100 million short in financing the project, and the MTC made it very clear that they needed to secure the rest of the funding by this June to be eligible for stimulus funds.
Yesterday, I found out what their financing plan is. No, they haven’t found some secret pot of federal or state money. No, they haven’t decided to nix Bart to San Jose and use the savings on the OAC. Their brilliant plan is to take out a loan of up to $150 million.
Yes, you read that right. While transit agencies across the nation, including BART, are raising fares and cutting service, BART is planning to take out a large loan to fund a project that could be completed for the third of the price if converted to BRT. BART staff is of course claiming that ridership on the OAC will be high enough to cover all debt service, but it’s hard for me to believe that, since historically BART’s ridership projections have been wildly high.