IT'S
IT'S A
IT'S A BIG DAY HERE IN TEXAS. VOTERS ARE HEADING TO THE POLLS TODAY..
TODAY..
TODAY.. AND ON THE BALLOT FOR AUSTIN
VOTERS.. IS PROPOSITION A. IT'S A MULTI-BILLION DOLLAR
PROPOSAL DESIGNED TO
ADDRESS TRAFFIC CONGESTION IN
AND AROUND
THE CITY.
THE CITY.
THE CITY. IT'S NOT WITHOUT CONTROVERSY.
YOU'VE PROBABLY SEEN SOME OF THE YARD
SIGNS POPPING UP.
THEY SAY PROP A WILL CAUSE A 25
PERCENT TAX HIKE
AS A REMINDER -- PROJECT CONNECT
WOULD ADD TWO LIGHT RAIL LINES, ANOTHER
COMMUTER RAIL LINE, AN
UNDERGROUND TUNNEL -- AND MORE
RAPID BUS SERVICE
THROUGH THE CITY.
SO THIS MORNING -- WE'RE DIVING
INTO THE COST
OF THIS PROJECT AND WHAT IT
COULD MEAN FOR YOUR
WALLET.
WALLET.
WALLET. KVUE'S BRYCE NEWBERRY JOINS US
LIVE THIS MORNING TO EXPLAIN ALL THE NUMBERS.
GOOD MORNING BRYCE.
GOOD
GOOD MORNING -- IF APPROVED -- THIS 7.1 BILLION DOLLAR PLAN WOULD
INCREASE A PROPERTY TAX BILL --
BY ABOUT FOUR PERCENT, BASED ON
THE CITY OF AUSTIN'S ESTIMATE.
BASED ON A KVUE ANALYSIS -- THE
CITY'S PORTION OF THE
TAX BILL -- WOULD GO UP ABOUT 20
PERCENT..
SOME SAY THE COST FOR PROJECT
CONNECT -- IS
JUST
JUST TOO
JUST TOO EXPENSIVE. 7-POINT-1 BILLION DOLLARS.
THAT'S HOW MUCH A MASS TRANSIT SYSTEM COULD COST THE CITY OF
AUSTIN.
LET'S BREAK DOWN THE NUMBERS..
TWO LIGHT RAIL LINES FOR 3-
POINT-8 BILLION DOLLARS
AN UNDERGROUND TUNNEL FOR TWO
BILLION RAPID BUS SERVICE -- 170
MILLION
A COMMUTER RAIL LINE -- 370
MILLION
AND THE REST
-- FOR THINGS LIKE NEIGHBORHOOD
CIRCULATOR BUSES, AND
IMPROVEMENTS TO THE CURRENT RED
LINE.
AND RIDES, NEIGHBORHOOD
CIRCULATOR BUSES,
IMPROVEMENTS TO RED LINE,
MAINTENANCE AND TECHNOLOGY
BUT, WHAT'S THE COST OF DOING
NOTHING?
THE COST OF DOING NOTHING IS TO
CONTINUE TO HAVE A CITY WHERE
WE JUST WE JUST DON'T HAVE A
REAL
REAL WAY
REAL WAY TO GET AROUND AND WE DON'T HAVE REAL OPTIONS. WE SHOULD BE DOING NOTHING AND
LETTING TECHNOLOGY TAKE ITS
COURSE BECAUSE WE'RE
GONNA BE PUTTING MONEY INTO AN
OLD TECHNOLOGY HERE. THE
COST
OF DOING NOTHING IS REALLY GOING
TO RESULT IN BUSINESSES
DECIDING TO BYPASS AUSTIN IN
FAVOR OF OTHER LOCATIONS IN
TEXAS, IN UNITED STATES AND
AROUND THE WORLD. THE
COST OF DOING NOTHING IS MORE
EXPENSIVE THAN THE COST OF
DOING SOMETHING. CAPMETRO AND
THE CITY ARE EXPECTING THE
FEDERAL GOVERNMENT TO PAY FOR 45
PERCENT OF THE
PROJECT.
THAT MEANS THE TOTAL LOCAL
INVESTMENT WOULD BE ABOUT
3-POINT-9 BILLION.
AND IF THE FEDERAL DOLLARS DON'T
COME THROUGH -- THE
TAXES WOULD STILL BE COLLECTED
AND PUT TOWARD AS
MUCH OF THE PROJECT AS POSSIBLE.
THE MOST EGREGIOUS THING ABOUT
THIS
THIS THING RIGHT NOW IS THE AUDACITY THAT THE CITY AND CAPITAL METRO WOULD BRING A
SEVEN
POINT ONE BILLION DOLLAR TO THIS
COMMUNITY AND REALLY PROMOTE
IT TRAVIS COUNTY COMMISSIONER
GERALD DAUGHERTY
DOESN'T SUPPORT PROJECT CONNECT
-- PARTLY BECAUSE OF THE COST
AND
THE TIMING.
BUT FOR THE AUSTIN CHAMBER OF
COMMERCE -- IT'S A PROJECT
THAT SUPPORTS AUSTIN'S FUTURE.
WE THINK IT'S A VERY GOOD
INVESTMENT WHEN IT TOUCHES ON
THE
THREE CORE THINGS THAT ARE
IMPORTANT TO US THE ECONOMIC
DEVELOPMENT, GROWTH OF EDUCATION
AND THE REDUCED
REDUCTION IN CONGESTION. SO
-- LET'S TALK ABOUT HOW MUCH
IT'LL
COST YOU -- THE TAXPAYER.
WHEN YOU LOOK AT THE BALLOT
LANGUAGE .. PROPOSITION A
ASKS IF YOU SUPPORT A TAX RATE
INCREASE OF 8.75 CENTS PER
100-DOLLARS OF YOUR PROPERTY'S
TAXABLE VALUE.
IN AUSTIN -- TRAVIS CENTRAL
APPRAISAL DISTRICT REPORTS
2020'S MEDIAN HOME VALUE AS
371,056.
SO BASED ON A KVUE ANALYSIS --
THAT HOMEOWNER WOULD PAY ABOUT
335
DOLLARS MORE IN PROPERTY TAXES
NEXT YEAR COMPARED TO THIS
YEAR. THAT'S ABOUT 28
DOLLARS MORE A MONTH.
BUT IT'S NOT JUST NEXT YEAR --
IT'S A PERMANENT TAX RATE
INCREASE
THAT HOMEOWNERS WOULD CONTINUE
TO PAY FOR YEARS
TO COME.
THERE'S NO WAY THAT THE COST OF
THIS PROJECT IS GOING TO BE
WORTH ANY BENEFIT JENNIFER
VIRDEN IS RUNNING FOR THE
DISTRICT
10 AUSTIN CITY COUNCIL SEAT.
SHE'S WORRIED THE PANDEMIC'S
UNCERTAINTY DOESN'T JUSTIFY SUCH
A MASSIVE BILL.
THE WORLD IS CHANGING, I THINK
THAT WE CANNOT CONTINUE
BUSINESS AS USUAL. THAT WOULD
NOT BE PRUDENT. WE NEED
TO BE CAREFUL. BUT AUSTIN IS
ALSO CHANGING -- EXPECTED TO ADD
TWO MILLION MORE PEOPLE BY
20-40.. WHICH IS WHY THE AUSTIN
CHAMBER
URGES VOTERS NOT TO PASS ON THE
MOMENT.
THIS IS A ONCE IN A LIFETIME
OPPORTUNITY FOR US TO HAVE A
SYSTEM INVEST INTO OUR COMMUNITY
THAT WILL MAKE
POSITIVE CHANGES, POSITIVE
OPPORTUNITIES AND POSITIVE
GROWTH FOR GENERATIONS TO COME.
I
I KNOW
I KNOW THAT WAS A LOT OF NUMBERS TO FOLLOW -- SO WE'VE GONE AHEAD AND BROKEN THEM
ALL DOWN FOR
YOU IN DETAIL ON KVUE-DOT- COM
SLASH PROJECT CONNECT.
THE MOST EXPENSIVE PARTS OF THIS
PROJECT ARE
THE LIGHT RAIL LINES AND THE
TUNNEL -- BUT SOME SAY
LIGHTRAIL IS OUTDATED AND NOT
THE BEST SOLUTION.
THAT'S WHAT WE'LL LOOK AT CLOSER
TOMORROW ON
DAYBREAK.
DAYBREAK.
DAYBREAK. BRYCE NEWBERRY KVUE NEWS.
YVONNE? THANKS BRYCE!