CM reserves down to effectively nothing
Cross-posted from the twitter which is about all I have time for right now:
This happened, in short, because Capital Metro pursued a cheap rail plan that was so cheap the Feds didn't want any part of it (45M originally promised to voters from Feds now spent out of reserves) - then, a combination of typical overruns and not-so-typical incompetence (and a bit of overruns caused by under-engineering) led to even more spending out of reserves. When they say they have enough money to pay Austin the commitments they made in the past, they are lying. They clearly don't have the money; didn't back then; and Ben Wear deserves some apologies from some Capital Metro employees at this point.