Examiner News: METRO finances bleak and getting bleaker

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Metro’s finances bleak — and getting bleaker in latest report – Michael Reed, YourHoustonNews.com

The Metropolitan Transit Agency will be facing roughly a $2.6 billion negative cash balance by 2035, if both the general mobility payments to the city remain in place and its light-rail expansion plans go forward.

This according the transit agency’s own March 10 financial plan, based in part on current revenue and ridership projects and submitted to the Federal Transit Administration, concerning the agency’s New Starts Program funding for the North Corridor light-rail line.

METRO’s playwright-in-chief is thought to be someone who understands financial reality. When is he going to hit the brakes on the unaffordable rail expansion?

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