RTA transit plan: How much will it cost you?
DETROIT – The Regional Transit Authority of southeast Michigan is proposing an ambitious plan to overhaul public transportation in the area.
The proposed plan would offer a "true" regional public transit system in southeast Michigan, through various bus and rail services.
The plan would connect 946,200 jobs, more than 1.1 million people, 23 colleges, 22 hospitals and 414 parks.
View a large version of the proposed plan map here.
It's a complex plan, with long-term implications -- the question is, how much will it cost?
The RTA said the plan would cost approximately $4.6 billion over 20 years.
Voters will be asked to consider a 1.2 mill property tax increase on November 8, 2016.
This increase amounts to about $8 a month for the average home (assessed at $78,000).
According to an RTA study, the 20-year investment period would have these economic impacts:
- 67,844 jobs supported – average 3,392 jobs per year
- Approximately $6.0 billion (in 2015$) added in gross regional product
- Approximately $4.4 billion (in 2015$) growth in real personal income
- Approximately $2.06 rate of return per dollar investment
The RTA study also broke down the total economic impact in the study areas. The table below shows the projections of job growth, and ROI.
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