METRO's "long-term financial train wreck" lumbers on
- Metro abandoning bid to payoff general mobility carry-over in fiscal 2012 - Mike Reed, Your Houston News
So much for NEW METRO delivering on its promises.
Metro has abandoned plans to complete its carry-over general-mobility payments to the city of Houston and Harris County by 2012.
A chart outlining cutbacks for 2012 budget to begin in October, shows the transit agency will begin setting aside only $3.25 million a month in general mobility payments, down from the current $5 million a month.
This will delay payments of about $18 million until the 2013 budget year.
- Metro counts on federal cash despite D.C.'s red ink - Carol Christian, Houston Chronicle
As Metro ramps up construction of the North and Southeast light-rail lines scheduled for completion in 2014, the agency has made much of two pending federal grants that total $900 million.
But even if the grants come through - and in today's Washington climate, nothing with a dollar sign seems definite - they won't arrive in one big check.
Greanias and Board Chairman Gilbert Garcia said they're counting on the money even though it will be subject to annual appropriations by Congress that are shrouded in uncertainty pending the work of the newly appointed Joint Select Committee on Deficit Reduction.
METRO's Board Chair and disgraced CEO take optimism to delusional new heights. Someone needs to let them know the country is broke, and the federal money spigot for frivolous boondoggles is going to have to be turned off (or at least severely limited).
- Next great global health hub, TX vs. Midwest, luxury buses vs. trains, and more - Houston Strategies
Everybody can clearly see the long-term financial train wreck Metro is embarking on, but they all just shrug their shoulders and nobody tries to stop it. So frustrating and sad. So many better things could be done for the city with that money. Any brave officials out there to rally the cause of Houston's long-term transportation future?
Doubtful. On this topic, the light-rail Houtopians are determined to forge ahead. Those of us who point out the fiscal insanity are (mis)labeled anti-rail Luddites (or worse). And overall transit system ridership continues to decline (along with the services provided). World Class (mess)!