Clay Chastain Shares Deets On $2.6 BILLION Airport Monorail Plan

From the author of this endeavor . . . KC's longstanding transit activist offers some economic deets on his not-so-modest proposal . . . 

Back on the Tracks: Clay Chastain Proposes a 40-Year Sales Tax for Airport Monorail

Here Comes the Monorail and Here Comes Kansas City. Chastain Commends Mayor Lucas & the City Council for reversing course and passing Ordinance # 260859 that places the Citywide Airport Monorail Initiative on the April 6, 2027 Ballot in its "Original Form." Now, let the Campaign begin to inspire Voters to support a Bold Vision to transform KC into a Transportation & Economic Powerhouse. Toward that outcome, and to demonstrate Chastain's wherewithal to design the Initiative & lead the KC Community, Chastain releases Cost & Revenue projections & a brief resume', as follows:

Total (estimated) Construction Cost:

1. 30-Mile Monorail Spine................$ 1.80 Billion
2. Streetcar to 18th & Vine...............$ 0.20 Billion
3. Greenway Network.......................$ 0.17 Billion
4. Electric Bus Fleet..........................$ 0.15 Billion
5. Union Station Hub.........................$ 0.12 Billion
6. New Mo. River Monorail Bridge....$ 0.10 Billion
7. Natural Penn Valley Park..............$ 0.06 Billion 

Total Construction Cost.................$ 2.60 Billion.

*************************************

Note: The following Revenue estimates work off a City - only Baseline (Public Transit / KCATA Model). 
Currently, a KCMO 3/8-cent transportation sales tax brings in roughly $ 40 million annually. 
The figures below project a moderate growth rate of 3 1/2 % (over 40-years) as a direct result of increased economic 
output produced by the Citywide Airport Monorail Project over that time period. 
The same 3 1/2 % growth rate is applied in estimating the 1/4-cent Capital Improvement sales tax over 40-years. 
* The 2-local taxes are a long-term commitment to vastly improve mobility options, prosper the City & secure (significant) Federal funds.  

Total (estimated) Revenues & Federal Matching Funds:

Estimated Revenue from extending (for 40-years) an Existing 3/8-cent Transportation Sales tax (compounded @ a 3 1/2 % growth rate) = $3.4 Billion.

Estimated revenue from imposing (for 40-years) a New 1/4-cent Capital Improvement Sales tax (compounded @ a 3 1/2% growth rate) = $2.0 Billion 

Total Revenues from both sales taxes (3.4 + 2.0) = $5.40 Billion

Federal 50% Match (.5 x $ 2.6 B in construction cost) = 1.30 Billion 

Total funds raised (over 40-years) by both Sales taxes + Federal matching funds (5.4 B + 1.3 B) = $6.70 Billion 

***************************************

O&M Cost over 40-yrs (Monorail, Greenways, E-Buses, Union Station Hub, 18th & Vine Streetcar & New Natural Penn Valley Park - less user fees) = $1.4 Billion

Bond Financing charges ($1.3 Billion (City amount) borrowed over 40-years @ 4% simple interest rate) = $2.00 Billion 

Net reserves = ($6.70 Billion - $2.6 Billion - $2.0 Billion - $1.4 Billion) = $ 700 Million

Projected Surplus $700 Million 

***Projected Economic Output (Revenues) generated from Monorail & Green Mobility Options (including...
New business, Monorail-driven mixed-use development, World Cup - type events, new tech-companies, 
more tourists, more conventions & more People moving to KC) = Imponderable.

*************************************

Developing . . .