Contributed by Professor Robert Dean
HOW MUCH FOR THE LOCAL CONTRIBUTION?
What are the direct costs of the CRC light rail project to the local community?
Frankly, I don’t concern myself too much about the projected $4.2 billion price tag[i] of the CRC light rail project. If the feds want to further squander our gas taxes, or borrow from China, there’s not much I can do or say that would dissuade them. I got a little more concerned, though, when, in 2010, Joe Cortright alerted us that the total 30 year cost of the CRC light rail project would approach $10 billion.
He published his report and it caught the attention of the public and the CRC. The CRC, by way of ODOT, posted a weak refutation, mostly arguing semantics; if you buy a house for $300,000 you don’t count up the mortgage payments and say you are living in a $600,000 house. To which Mr. Cortright answered: no, but you’d better be sure you can make those payments before you borrow to buy the house.
