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Report: Caltrain budget deficit could surpass half a billion dollars over next decade

Original post made on Apr 13, 2023

Caltrain's cumulative operating deficit may exceed half a billion dollars over the next decade without significant changes in ridership, funding and other factors, according to a new financial outlook report.

Read the full story here Web Link posted Thursday, April 13, 2023, 9:15 AM

Comments (2)

Posted by Online Name
a resident of Embarcadero Oaks/Leland
on Apr 13, 2023 at 10:40 am

Online Name is a registered user.

"Caltrain has recovered just 26% of its pre-pandemic ridership as of November 2022, the lowest rate among the Bay Area's major public transportation systems, according to a report by the consulting firm Bell Burnett & Associates presented April 6 to Caltrain's governing board."

Housing targets are based on the number of jobs in a community and they haven't recovered to pre-pandemic levels. It's absurd that these numbers can't be revisited for eight -- 8 -- years even though layoffs continue to mount, workers who are still working are often working remotely and the state budget surplus is now a massive deficit raising the question of who's going to fund the "below market-rate" housing.

Replacing public transit parking lots with housing has always been absurd since it discourages people from taking public transit because there's no parking.

Meanwhile the governor dismisses this downturn as the "normal boom-bust cycle," something our local "leaders" ignored in their rush to flood PA with new offices and new hotels for the tax revenue which went poof when the economy tanked.

Posted by Bystander
a resident of Another Palo Alto neighborhood
on Apr 13, 2023 at 10:48 am

Bystander is a registered user.

Caltrain has never been passenger friendly. No incentives to use it for evenings or weekends, or off peak.

No free parking after 3pm, no cheaper tickets after 10 am, no family discounts, no weekend fares. The trains are running and getting butts on seats on off peak trains should be a goal.

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