The Longmont City Council unanimously passed a resolution requesting that the Regional Transportation District (RTD) place any new revenue from cost savings back into the FasTracks Internal Savings Account (FISA) for future FasTracks projects, specifically the Northwest Rail Corridor. Recently, funds in the FISA have been used to offset operating expenses for new FasTracks funded rail projects.
Over the past 12 years, Longmont taxpayers have paid about $40 million to the RTD to help fund the FasTracks system since voters approved the 0.4 percent sales tax in 2004. However, a few years after the vote RTD officials admitted the Northwest Rail Corridor isn’t feasible given funding projections until 2042. The resolution is a “feel good” measure but is unlikely to sway RTD.