Clovis Chamber reverses stance on high-speed rail

Source: The Business Journal

The Clovis Chamber of Commerce announced that it has reversed its previous support of California's high-speed rail project. According to a letter by Chamber President and CEO Mark Blackney, the nearly 520-mile envisioned rail system linking San Francisco to Los Angeles is far removed from the plan first proposed in 2008. Blackney cited increased costs, from $43 billion spelled out in Proposition 1A to nearly $69 billion currently, were key in the Chamber's reconsideration. "When approved in 2008, funding was expected from the federal government," Blackney stated. "However, since then, the economy has deteriorated so those revenues are no longer guaranteed. That leaves the bulk of funding on the backs of Californians who are struggling with an uncontrollable debt." Projected ticket costs have also ballooned, Blackney pointed out, going from $55 between Los Angeles and San Francisco to $110. Ridership, originally projected by the California High-Speed Rail Authority at more than 42 million a year, has been shown to be overinflated, he added, as have travel times, estimated at 2 hours and 40 minutes across the length of the rail system. The letter also said the rosy economic impacts touted by rail officials will also not pan out. Last week, Gov. Jerry Brown recently signed legislation approving around $8 billion in funding for the bullet train project, including $2.6 billion in voter-approved bonds and $3.2 billion in federal cash to build the first 130-mile section between Madera and Bakersfield.

URL to original article: http://thebusinessjournal.com/news/transportation/2698-clovis-chamber-reverses-stance-on-high-speed-rail

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