Bend Over: Bay Area Faces New High-Speed Rail Costs
Now that Gov. Jerry Brown has signed legislation to allow the state to spend billions on high-speed rail, Bay Area residents had better brace for the real ride - a push for $650 million in toll hikes and new San Francisco taxes.
That’s how much will be needed to help pay for a tunnel to connect the Transbay Terminal to the Caltrain station at Fourth and King streets.
As it turns out, none of the $2.5 billion in tunnel costs were included as part of the narrowly approved high-speed-rail deal.
It’s up to the locals to make the tunnel happen. If they don’t, the $68 billion high-speed-rail line from Los Angeles will dead-end several blocks from downtown proper.
Building the tunnel will put San Francisco in competition with those hoping to finish BART to San Jose - both projects will be tussling for $1.8 billion that the federal government will direct to the Bay Area in the coming years.
Just for work to start on the 1.2-mile dig through the heart of the city, however, the Bay Area has to come up with its own $650 million. The current plan is to raise $300 million from higher bridge tolls and $350 million in San Francisco sales-tax dollars.