You should vote “YES” on Prop A because you think 197% is a good return on your investment.
MetroLink’s Red Line began in 1990 and the original line cost $465M to construct. St. Louis was able to provide $117M in funding and leveraged this support to earn $348M in additional federal funding. That’s a 197% return on investment. How many of you have done better than that in the past few years, or ever? There are additional arguments to be made regarding ancillary economic benefits, transit-oriented investment, etc., but I won’t address that issue here.
Some critics point out that however much the new transit tax generates (estimates are near $70M/yr.) it won’t be enough to build another MetroLink line or introduce Bus Rapid Transit in the region. They have a point. However, they ignore the power of local financial support. Communities seeking to expand and improve transit options must demonstrate commitment to that end. If and when that happens additional funding is possible. It’s not a sure thing, but one can easily see a financial path to better transit. Without the additional local funding there is no such path.
So vote “YES” on Prop A, invest in St. Louis and realize an incredible return on investment for the region.