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Securing New Funds
The Bay Area must raise at least $18 billion over the next 25 years just to operate and maintain our existing public transit system. Even more funding is needed for key improvements and expansions to make transit work better and serve for more people. TransForm is working with diverse sets of partners on increasing the share of existing funds that go to transit, and to raise new funds at the local and regional level.
TransForm is working to identify and pass new funding sources that would:
- Create a significant amount of funding
- Provide a stable and secure source of revenue
- Be eligible for use for transit operations
- Minimize any disproportionate financial or other impacts on vulnerable populations
- Be winnable in the next several years
We're looking at a variety of opportunities to create new revenue for transit, including:
- High-Occupancy/Toll (HOT) lanes, which could provide funding for transit throughout the region. To learn more, contact Jeff Hobson.
- Several options surfacing to save Caltrain, which is facing massive cuts despite growing ridership. While Caltrain, county agencies, and MTC are scrambling to craft a short-term fix, long-term cuts are looming. TransForm is collaborating with Friends of Caltrain, the Silicon Valley Leadership Group's Save Caltrain effort, and others. To learn more, contact Chris Lepe.
- A new regional funding measure to support transit, affordable housing, and open space in order to implement the Bay Area's Sustainable Communities Strategy.
- State policy reforms to increase state-level investments in transit and provide communities and regions with more tools for establishing additional local and regional funding sources.
The passage of Proposition 26 in 2010 makes it tremendously difficult to create new streams of funding for transportation through impact and pollution mitigation fees. TransForm’s Sacramento team is working with diverse stakeholders to figure out just what this means for future Bay Area efforts to generate new funding.
MTC’s 2009 Annual Report provides details about the dismal state of transportation funding in the Bay Area.
Read about the critical connection between transit funding and the potential for transit oriented development in TransForm's article for the Federal Reserve Bank.
TransForm has been successful in shaping and passing literally billions in new transportation funding in the Bay Area. Learn about some of our past successful funding campaigns.
For more information, contact Jeff Hobson.