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Back in 2009, BART’s management claimed the Oakland Airport Connector (OAC) would cover all of its own costs. TransForm and many of our allies didn’t believe it then, and now we have new evidence proving just how wrong BART’s claim was. This Thursday’s BART meeting has a pair of presentations on the OAC Financial Outlook and Fiscal Year (FY) 2015 Preliminary Budget.
According to these documents, BART expects to lose $7-8 million on the OAC during FY2015, its first year of operations, and the project will continue losing money through at least 2040. In part because of these losses, BART can’t afford important initiatives to repair aging parts of the system, plan for the future, and even pay part of its garbage bill!
BART must take aggressive steps NOW to reduce its losses and learn painful lessons for the future.
Don’t make a bad situation worse...