Regional
(2010-02-05)
DENVER, CO
(KUNC) -
Millions of dollars in federal transit funds are heading to the Denver area to help shore up budget deficits that have put the future of commuter rail expansion in the region in jeopardy. This week President Obama announced that more than $80 million is in his proposed budget for Denver's FasTracks Program. And Friday afternoon, Federal Transit Administration chief Peter Rogoff appeared alongside local and state leaders to announce $300 million more in secured bonds for the redevelopment of Union Station, among other projects.
"You put those together and we are talking about thousands of jobs, jobs that this region needs right now," Rogoff said, in front of Union Station.
The funding has local officials breathing a sigh of relief, since declining sales tax revenues and other factors have put the FasTracks initiative in the red.
"This is going to transform this entire region, it's going to create jobs, it's so exciting," said Phil Washington, RTD general manager.
Officials say the new funding all but guarantees that the next phase of construction will be completed on course. That includes the west corridor light rail line between downtown and Golden, which is now under construction. And the soon-to-be built east commuter rail line, which will connect downtown with DIA.
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