Streetcar funding update

Just got a note from Adam Park over in the Mayor’s office. There was in inaccuracy in my previous post about ongoing funding. As Adam pointed out funds from the LID cannot be used to pay for ongoing operations. The City and CCDC will contribute funds to run the streetcar system if it is built. I corrected the original post, and below is what Adam sent me. Thanks Adam and Cece for clarifying the situation for us.

I just went to your blogpost regarding the Boise Streetcar. It’s a good blog, but I noticed there was some incorrect information. The local improvement district (LID), if approved by council, would be used to fund capital construction of the streetcar. By law, the LID cannot be used to cover operations. The breakdown of expenses currently being considered is as follows:

Capital Construction:
$40 million - Tiger Funding
$10 million - City of Boise/CCDC
$10 million - Local Improvement District

Operating Costs
$1.2 million/year - City of Boise/CCDC

I thought you should know so you can correct the paragraph early in the blog.

Thanks,

Adam

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