Time Running Out For ART Funding (Albuquerque, NM)
If ART doesn't get the funding agreement by Saturday, there is a chace it won't ever be funded.
Time is running out for Mayor Richard Berry to get approval from the Federal Transit Administration for Albuquerque Rapid Transit Project and the $69 million the city had hoped to get from the feds.
As of Sept. 22, the FTA had still not approved the project, which is now more than 70 percent complete. And if the FTA doesn’t approve the project by Sept. 30, the next mayor could be scrambling to fill a $69 million budget hole.
Here’s the situation:
The current federal fiscal year, FY 2017, ends on Sept. 30. President Trump’s proposed FY 2018 budget contains no money for FTA transit projects that don’t already have a funding agreement. If ART doesn’t get the funding agreement by Saturday, there is a chance it won’t ever be funded.
Again, that would mean the city would have to find up to $69 million that it was hoping to get from the feds.
Read more at:
http://www.freeabq.com/2017/09/25/art-time-running-out/