CT Light Rail: Quest for $
The Greater Hartford Transit District recently appointed Eileen Kraus to head the Financing and Implementation Task Force, charged with developing a funding and implementation strategy for the planned light rail system. Hartford's metropolitan planning organization designated the Griffin Line Corridor this summer for a 9-mile electric trolley to operate between Hartford's Union Station and Griffin Center Office Park in Bloomfield. Planned extensions to the Griffin Line would reach Bradley Airport and Downtown Hartford. The Task Force will conduct a six to nine month study to identify potential capital sources for construction of the electric trolley, as well as to recommend an operating structure and authority. Composed of Federal and State legislators and officials, local representatives, and private sector interests, the group will review transit financing case studies from the U.S. and Connecticut, and will concentrate particularly on alternative private and institutional funding opportunities. State and private sector bond securitization, as well as a private operator may be considered. Kraus, a prominent member of Connecticut's business community, acknowledged that financing the $176 million light rail presents a challenge, "particularly in light of our current economy and this era of fiscal constraint." The Rowland administration and CT DOT have repeatedly said funding for the project will be difficult to obtain. Greater Hartford Transit District, 203-247-5329.
