I was talking with a few alders about trolleys the other day and tried to look up additional information about them. Someone was telling me that they had identified 91 development sites along a proposed route that were going to help raise taxes to pay for the system. I wanted to see the information that was provided. Their advice, read the Wisconsin State Journal? That wasn’t a very satisfactory answer, but the information wasn’t available anywhere else.
First, I checked the last agenda (4/23/07) of the Streetcar Committee. No links or additional information were provided.
Then, I checked the streetcar portion of the City website. Also, no recent information about routes, ridership, budget or development sites. Many of the minutes of the meetings seem to be missing? Or didn’t they meet since November?
Finally, they were correct, I looked at the Wisconsin State Journal on-line and found some information. I didn’t find the map I wanted to see, but I did find this article that had some budget information. And this article that mentions the 91 development sites, but no map. Now I hate to rely on a newspaper article to be accurate, but if this information is true, it’s absurd. It starts off with:
The potential first phase of a Madison streetcar system would cost $58 million to build and would increase Downtown property values enough to offset some of that cost, Mayor Dave Cieslewicz said Monday.
Then it tells us that:
Based on the effect that the consultants say the streetcars have had in other U.S. cities such as Portland, Ore., Tacoma, Wash., and Tampa, Fla., the properties would increase in value by 5 percent to 10 percent five years after groundbreaking, or about $100 million to $200 million, Cieslewicz said, citing the study. That would generate about $720,000 to $1.4 million a year, based on 2007 property tax rates.
Unless they forgot to report something, that means that it will take 41 – 80.5 years to pay for just building the tracks, if the cost and taxes remain in proportion.
If the feds (we) pay for half, it will be 20 – 40 years.
And then, if all that money goes to the trolley, where will the taxes to serve those additional properties with police and fire services etc., come from? And finally, where will the money for operating costs of the trolley system come from? Surely, the fares won’t cover the costs to run the trolley system.
Too bad more information isn’t available to the public. Or even council members.
