Austin’s planned light-rail project got on the funding track this week, with the Austin Transit Partnership approving a $193 million budget for its next fiscal year. Most of the money will go toward the design work needed for the project to break ground by the 2027 target date announced by transit officials earlier this year.
The partnership, an entity formed to build and oversee Austin’s ambitious Project Connect transit system expansion, should get $172 million from taxes approved in a 2020 bond election in addition to $21 million from investments and other income.
ATP’s budget includes an estimated $78 million for professional services and , and $38 million for administrative costs for fiscal year 2024-25, with an additional $60 million going to anti-displacement work. The remaining amount will stay in the ATP’s reserve fund.
Funding needs are likely to increase dramatically after this and in subsequent fiscal years as the project starts to incur construction costs.
