Stimulus Watch

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[edit] Points in Favor

2,600 jobs for this light rail

Powerful Catalyst for Economic Development. Although the improved transportation provided by the streetcar will improve the character and feel of the city, the greatest benefits come from the streetcar’s ability to focus and spur investment all along the route. Streetcars promote growth add economic development in a myriad of different ways. They make downtown housing more affordable, bring in more customers to support downtown retail, improve property values, create a more vibrant city, and increase public safety by keeping more eyes on the street which improves the overall business climate.

Proven Track Record. In fact, in other cities, building a streetcar line has been an effective way to increase investment and development in their urban cores. For example, Portland has seen $2.8 billion in added value to the city. Tampa’s streetcar line stimulated $1.1 billion of development. Little Rock’s route brought $700 million into the city. Even Kenosha, Wisconsin has seen $175 million in added value along their streetcar line.

The Streetcar in Portland has been so successful, as a matter of fact, that the City Council would be abdicated their responsibilities to not do everything in their power to recreate the same success. In Portland, an investment of only $72 million dollars has yielded $2.28 billion in economic development, 7,248 housing units, 4.6 million sf of office, institutional, retail and hotel uses, and allowed the number of cars per unit of housing to be reduced.

Creates Residential Wealth A condo-builder has to spend about $50,000 to build two parking spaces per unit. If the streetcar can lower the ratio of cars to units from two to one, the price of the condominium will fall by $25,000. If the homeowning couple can operate one car rather than two, the two people can save $ 4,000 per year. This money can go to buying a more expensive unit, an education for their children, or an upgrade to their lifestyle.

Reduces Traffic Mass transit reduces car traffic, which I'm sure everyone agrees, is getting bad - especially in the UofA area and the downtown area.

Reduces Dependency on Foreign Oil Mass transit reduces the overall amount of traffic, and, in the process, means that less gasoline will be burned. Since a majority of the oil in the U.S. comes from foreign sources - often hostile to the U.S. - mass transit options such as The Streetcar have a positive effect on this matter of national security.

Reduces Carbon Emissions and Air Pollution Mass transit that removes cars from the road not only reduces traffic and reduces our dependency on foreign oil, but it also reduces the amount of carbon emissions and air pollution. This has intangible health benefits to the local population as well as climate change benefits to a more global population.

[edit] Point Against

Who are they kidding with an estimate of 2,000+ jobs for a light rail that travels from the UoA to downtown?