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Podcast: Cascade CounterPoint
Episode: QP: Metro’s Ballooning Bond for Road Diets
Description: On July 31st, the seven Metro councilors will vote to borrow $88.5 million to help pay for five transit projects that include “road diets” in and around Portland. Once approved, Metro will have to repay the loan until 2039.To obtain the $88.5 million now, Metro will pay $140 million in principal and interest over the next 14 years. That’s nearly $50 million lost to debt service, money the agency can’t spend on capital investments or region-wide programs. Which projects are so urgent that Metro councilors are willing to lose $50 million? One is a 0.65-mile streetcar extension on NW 23rd Avenu...