Posted on 10/08/2010 12:06:04 PM PDT by CedarDave
ALBUQUERQUE (KRQE) - The New Mexico Rail Runner has been chugging through the heart of state for four years. However, it may soon face a financial train wreck. Currently the Rail Runner is supported by state and federal money. In just one year, the federal funds are set to disappear.
Currently, fares only cover about 14 percent of the operating costs. BNSF Railway and Amtrak take care of another 7 percent. Voters approved a gross receipts tax in 2008 and that money makes up 54 percent of the operating costs. The state chips in 7 percent and remaining 18 percent is covered by federal funds, for now. However, as it stands now, on July 1, 2011 the Rail Runner will not qualify for federal funds. The expected loss is $4.55 million.
The looming financial problems have not stopped the Rail Runner from spending money. In March, the Rail Runner opened the Kewa station on the land formally known as the Santo Domingo Pueblo. That new station cost taxpayers $2.5 million.
Dewey Cave, interim executive director for the Mid-Region Council of Governments, is confident the Rail Runner will either qualify again for the federal funding or that the state will kick in money to make up for the loss. The state is expected to continue to collect the federal money; it just cannot be used for the Rail Runner. There is a move to change the federal law so transportation like the Rail Runner could continue to use the money, but that remains to be seen.
(Excerpt) Read more at krqe.com ...
We’ve been on the ones in Dallas, Houston, San Diego, and Denver. You’re right. The one in Houston goes no where. We were at a convention and the rail took us within 9 blocks of the convention center. It was a long walk. We did it one day and took the car the next 2. It was cheaper to pay the $10 parking fee than it was the light rail round trip for 2. It was also much more convenient. All we had to do was walk across the street. The one in Dallas was a little better, but I wouldn’t want to take it at night alone. Denver wasn’t bad.
All in all, a total waste of money for very little in return.
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