It looks like the Corn Belt Rocket will not reach the tall corn state.
This latest analysis not only pushes the overall cost up, but the state’s (Iowa’s) share would now be $72 million. That’s triple what the state projected its part of the cost would be three years ago.
That increase is in large part because of the diversion of $34 million in federal money from Iowa to Illinois to help pay the costs of the Chicago-to-Quad-Cities link, according to the Iowa DOT.
Now, even one of the chief legislative advocates says there’s no reason to keep pushing for the Iowa portion.
“Ultimately, as I view things, I think it’s an insurmountable lift for passenger rail,” said Sen. Matt McCoy, D-Des Moines. “It’s time to cut our losses and move on.”
http://thegazette.com/2013/12/19/iowa-rail-project-costs-balloon-lead-advocate-throws-in-towel/
This latest analysis not only pushes the overall cost up, but the state’s share would now be $72 million. That’s triple what the state projected its part of the cost would be three years ago.
That increase is in large part because of the diversion of $34 million in federal money from Iowa to Illinois to help pay the costs of the Chicago-to-Quad-Cities link, according to the Iowa DOT.
Now, even one of the chief legislative advocates says there’s no reason to keep pushing for the Iowa portion.
“Ultimately, as I view things, I think it’s an insurmountable lift for passenger rail,” said Sen. Matt McCoy, D-Des Moines. “It’s time to cut our losses and move on.”
- See more at: http://thegazette.com/2013/12/19/iowa-rail-project-costs-balloon-lead-advocate-throws-in-towel/#sthash.6DtSWVys.dpuf
This latest analysis not only pushes the overall cost up, but the state’s share would now be $72 million. That’s triple what the state projected its part of the cost would be three years ago.
That increase is in large part because of the diversion of $34 million in federal money from Iowa to Illinois to help pay the costs of the Chicago-to-Quad-Cities link, according to the Iowa DOT.
Now, even one of the chief legislative advocates says there’s no reason to keep pushing for the Iowa portion.
“Ultimately, as I view things, I think it’s an insurmountable lift for passenger rail,” said Sen. Matt McCoy, D-Des Moines. “It’s time to cut our losses and move on.”
- See more at: http://thegazette.com/2013/12/19/iowa-rail-project-costs-balloon-lead-advocate-throws-in-towel/#sthash.6DtSWVys.dpuf