According to the Salt Lake Tribune’s Lee Davidson, UTA is considering borrowing more money and refinancing current loans. The point is to continue work on public transit projects, some of which are reaching Utah County:
They said Monday they have long planned to borrow about $180 million this year or early next year to finish financing projects that include extensions of FrontRunner from Salt Lake City to Provo, and TRAX extensions to Draper, Salt Lake City International Airport, West Valley City and Daybreak.
It’s refreshing to see much-needed progress on Utah’s public transit system. However, what stands out most to me here is that the question facing the state is when to invest, not if investment should happen in the first place.
Of course, the reason to invest right now is the historically low interest rates. Indeed UTA apparently has grasped that this could be a once in a generation period when rates make projects incredibly affordable.
But if that applies to UTA, it also applies to some extent other public projects on the municipal level. The lesson, then, is that this is the time to invest and build.