5 minute read
$478 Million Rail Plan Fails: Santa Cruz County Regional Transportation
Ruth Bates
831.359.2212
Advertisement
ruthbates1@gmail.com
CalBRE#01799929
It is a SELLER’S MARKET for sure. 21 homes Sold in Aptos in the past 30 days. The Median List Price was $1,350,000 and the Median Sales (MSP) Price was $1,550,000, $200,000 (14.8%) over list! As of 4/05, there are only 25 homes for sale in Aptos and the Median List Price is $1,288,000! I have a NEW LISTING COMING SOON (4/23) on Village Creek Rd at the entrance to Nisene Marks and walking distance to the Aptos Village, beaches, and out-the-door to the forest. Spacios, end-unit townhome, 1785 Sq. Ft., 2 master suites, 2.5 bath, backyard views to forest, one-car garage; asking $895,000. BUYERS, it is tough out there right now. To avoid any Red Flags being raised by the credit scoring systems, here is a list of things NOT to do during your loan process: • Don’t apply for new credit – if you do this, your credit will be pulled by the potential creditor and you will lose points on your credit score. • Don’t make any large purchases – any changes to your credit card levels will signifi cantly impact your loan capabilities – Do NOT buy the appliances until after your loan is closed. • Don’t close credit card accounts. If you do this, it might look like your debt ratio has gone up. • Don’t max out or overcharge credit card accounts – try to keep your balances below 30 percent of limit during your loan process. • Don’t open, close, or change bank accounts – underwriters see this as a red fl ag • Don’t deposit cash into your bank account during your loan process. If you get money from a family member for your purchase, you much have a gift letter for it. • Don’t co-sign loans with anyone. It is always best to get as far along in the Loan Qualifi cation Process as possible BEFORE submitting an off er. Many lenders are working hard to close loans in 21 days or less so that the buyer can compete with a cash off er. Be prepared, it will pay off .
——— Enjoy Spring! And for all things Real Estate, call, email, text and Get Results With Ruth!
COMMUNITY NEWS $478 Million Rail Plan Fails
By Jondi Gumz
A$478 million business plan to build an electric passenger rail service from Pajaro to the Santa Cruz Westside failed to advance after a 6-6 tie vote April 1 by the Santa Cruz County Regional Transportation Commission.
A tie means the motion to accept the plan fails.
The plan assumed $280 million would be available for construction, short $198 million, and $125 million short of the estimated $275 million annual operating cost. The plan covered expenses only for rail, not the bike and walking trail proposed alongside.
Repairing the Capitola trestle is estimated to cost at least $20 million, according to RTC Executive Director Guy Preston.
The commission, which consists of nine elected officials (who have alternates) and three representatives of Santa Cruz Metro, has dreamed of creating a passenger service since buying the rail corridor for $14 million in 2010.
Voting yes to accept the business plan and its timetable to operate in 2035 were: Mike Rotkin of Santa Cruz and Aurelio Gonzalez of Watsonville, representing Santa Cruz Metro, Santa Cruz City Councilwoman Sandy Brown, Andy Schiffrin, alternate for Supervisor Ryan Coonerty, Watsonville City Councilman Eduardo Montecino, and South County Supervisor Greg Caput.
Voting no were: Supervisors Manu Koenig and Bruce McPherson, Patrick Mulhearn, alternate for Supervisor Zach Friend, Scotts Valley City Councilman Randy Johnson, Capitola City Councilman Jacques Bertrand, and Capitola City Councilwoman Kristen Petersen of Capitola, representing Santa Cruz Metro.
“The community cannot afford this rail plan,” said Koenig, who ousted incumbent John Leopold in November with a campaign to rethink the train.
Koenig noted the county’s pavement rating of F for its 600 miles of roads and the Metro bus system’s deficit.
He questioned the assessment that pursuing $17 million to pay for an environmental review of the project had no fiscal impact.
“Staff time costs $150 an hour,” Koenig said. “There is a very real cost. There is the cost of our time and attention … We need to spend time finding a way to reduce deaths, safe route to schools. We need a public vote (on a trail or a train in the rail corridor) as soon as possible.”
McPherson cited three reasons to vote no: The plan showed a train wouldn’t impact Highway 1 traffic, physical challenges in building the rail line and it’s not financially feasible.
Mulhearn said every consultant considered the passenger rail project “feasible if a series of impossible conditions are met. This project is infeasible.”
He said Santa Cruz County (with 275,000 people) would have a tough time competing for federal funds against heavily populated areas.
“We can’t be running an agency on magical thinking,” he said, adding his transportation solution: A dedicated bus lane on Soquel Drive/Avenue to get people to work and school faster.
Johnson said, “This project sucks the oxygen out of all the transportation things we need to focus on” — such as road repairs and the bus system.
He cited two rail projects with cost overruns — Sonoma and Marin’s SMART electric train and high-speed rail in the Central Valley — and the risks for local passenger rail: Funding, compatibility with freight service and a trail alongside, stakeholder support, project delivery — “so many red flags.”
Bertrand said, “We just don’t have the density of people or high enough income to support a rail system. We bought an antique. It’s degraded… The Capitola trestle is not the Golden Gate Bridge.”
He objected to data in the report that was not peer-reviewed, calling it “a major flaw.”
Bertrand wants to improve the Metro bus system.
Petersen said, “A lot of unknowns we don’t have answers for.”
Those voting yes talked about options for the future.
“It’s premature to end transit possibilities on this corridor,” said Rotkin.
Brown cited the possibility of “a significant influx of funding,” and wanted “to position ourselves for the future.”
Montesino, a veteran employee of Santa Cruz Metro, said, “My community --we’re in full support of this endeavor to keep our options open.”
Caput said, “I’m all for connecting Pajaro to Santa Cruz to the state of California.”
“Rail Plan” page 19
No Votes
Bruce McPherson Jacques Bertrand
Manu Koenig
Kristen Petersen Patrick Mulhearn
Randy Johnson
