Financing Metroby William I. Herman, Dir.; Ofc. of Planning, Washington Metropolitan Area Transit Authority, Washington, DC,
Serial Information: Transportation Engineering Journal of ASCE, 1970, Vol. 96, Issue 4, Pg. 571-583
Document Type: Journal Paper
Abstract: Metro will cost $2.5 billion to construct and equip. This includes escalation and contingency factors. The riders of the system will finance $835,000,000 of this through revenue bonds, and local governments will contribute another $573,000,000 in grants. Thus are residents will contribute about 55% of the total project cost. The remaining 45%, or $1.1 billion will be Federal grants staggered over a 10-yr. period. The results of a benefit-cost study indicate that: (1) The National Capital Region is ideally suited for rapid rail transit (2) Benefits will result not only to the person who uses the transit exclusively, but also to motorists using the transit system, to motorists not using transit, and to the business community (3) Introduction of Metro into the National Capital region will have broad, positive implications for the social environment and overall well-being of the region. (4) Implementation of the Adopted Regional Rapid Rail Transit System is a sound and profitable investment for the Federal government and for the local governments of the Washington region.
Subject Headings: Subways | Financing | Rapid transit systems | Federal government | Local government | Assets | Construction costs | Revenues | Washington | North America | United States
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