Stimulus Watch

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[edit] General Description

The Waller Creek Tunnel Project is a storm water bypass tunnel beginning with an inlet structure in Waterloo Park and an outlet structure at Lady Bird Lake near Waller Beach and the Four Seasons Hotel. Nearly, a mile long, the tunnel will vary between 22 and 26 feet in diameter. The project is expected to reduce the size of the 100-year floodplain of the lower Waller Creek watershed by an estimated 28 acres and allow denser development and redevelopment in a very desirable area of downtown Austin. A pump station at Waterloo Park will maintain constant water flow in the creek during the dry season, thus improving water quality and fostering a creek side atmosphere suitable for public venues or natural settings. Creek side inlets located between 4th and 5th streets and 8th and 9th streets will capture and divert additional flood waters south of 12th street.

The Waller Creek District Master Plan is a separate, but concurrent, project from the Waller Creek tunnel project. While the primary goal of the tunnel is to control flood waters and remove land from the 100-year floodplain, the master plan will help identify long-term community vision for the development of the entire Waller Creek District and will outline implementation strategies. Contract negotiations are currently underway with the Master Planning consultant selected by the Austin City Council. The tunnel project is comprised of several construction projects, including utility relocation, the tunnel, the inlet, outlet, creek side inlets, and site restoration. The Tunnel project will cost approximately $127 million—an initial estimate based on 2006 dollars. Construction will take place from January 2010 until July 2014.

http://www.ci.austin.tx.us/wallercreek/status.htm

[edit] Points in Favor

In no particular order...

1) By building the underground tunnel to manage the rain/water runoff, we can take hundreds of millions of dollars of property out of the flood plan and significantly augment property tax rolls for the county and city. In turn these funds could subsidize more necessary social services in Downtown Austin.
2) Currently the creek is a drug-dealing slum that is unsafe for bicycles and pedestrians.
3) Create the opportunity for a mixed-use district. This would increase sales tax revenues for the city.
4) Improve the experience of tourism and conventions, one of Austin's largest economic sectors.
5) Extend Austin's famous hike and bike trail from the lake to Waterloo park.

[edit] Points Against

Any stimulus resulting from this project presumes there is demand for new development in the Waller Creek District upon completion of the project in 2014. There is no way to know what development will take place five years hence, and even if there were development contracts in-hand today, waiting five years to begin development projects will not do much to pull us out of today's economic crisis.

Traffic congestion during construction.

The massive amounts of homeless people contained in that area actually make it undesirable for business.

The cost far outweighs the potential benefits, and the potential for complete failure is just too prominent.