4.2. SR 12-16-2002 - Laserfiche WebLink

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Minnesota Rides/page 2 "Minnesota's per capita transit spending is approximately 30 percent below the national average. And when you look at how many people our transit system can carry, we're last ~vhen compared to the other states with large cities. We need to do more," said Ramsey County Commissioner Susan Haigh, MTDB secretary. "Transitways are part of the answer, along with roadway and bus service improvements. These cost-effective transit- expressways in high-demand corridors are essential for efficiently moving people in and through the region." Tile Minnesota Rides financing plan has four main elements, all of which would require state action. (See attachment for more details.) 1. The authorization of a referendum on a one-half cent sales tax in a multi-county metro service area for 10 years. If approved by voters, the revenues would be invested in transportation capital projects -- for both transit and roads. 2. The issuance of bonds to accelerate the construction schedule on high priority highway projects and to take advantage of low interest rates. 3. The adoption ora 6-cent gas tax increase to fund highway construction statewide. 4. The adoption of a new schedule for license tab fees to allow the state to direct a greater share of motor vehicle excise tax revenues for new transit operations. The entire state would benefit from the Minnesota Rides plan in several ways. The gas tax revenues would be spent on road projects statewide and revenues generated by the Minnesota Rides plan would reduce funding competition for needed highway projects in rural Minnesota. Over the next couple months the board will be sharing its Minnesota Rides vision and financing plan with legislators, state officials and others. Who We Are The Metro Transitways Development Board is comprised of regional raih'oad authority representatives fi'om tile seven-county metro area. Formerly known as the Metro LRT Joint Powers Board, we've been working on transitway development since 1992. We have changed our name to more accurately reflect what we do -- supporting the development of a comprehensive transit system that includes commuter rail, LRT and busway options. The Metro Transitways Development Board works to provide a coordinated regional approach to rail and transit development, fi'om policy creation to legislative proposals. Our counties represent an important source of initiative and capital financing for transitway projects. We are also key to coordinating roadway and transit improvements in our communities.