Remember this? It’s TSPLOST project TIA-CO-035, a $695 million project to bring ‘enhanced premium transit service’ to Cobb County between Acworth and the Arts Center Station in Atlanta. It didn’t happen, of course, after voters in metro Atlanta soundly rejected the sales tax referendum two years ago.
Well, its back.
The Cobb County Commission is trying to figure out how to pay for a proposed bus rapid transit line between Kennesaw State University and midtown Atlanta, according to a story in this morning’s Marietta Daily Journal. Commissioners listened to a presentation by Ed Ellis of Kimley-Horn and Associates about the project, which, after some modifications, is now estimated to cost $494 million:
The largest part of the $494 million cost could be paid by the New Starts grant administered by the U.S. Department of Transportation’s Federal Transit Administration. Ellis estimated as much as 49 percent of the project — $242 million — could be paid for by that federal program.
Another $152 million, 31 percent, could come from other sources, Ellis said, such as additional federal grants, Cobb’s cities and universities, community improvement district funds, naming rights revenue, potential public-private partnerships and private organizations.
The remaining cost would be paid for by the county government.
“The current proposal is that Cobb County would contribute $100 million to the project, which is 20 percent,” Ellis said.
The commission is considering using funding from a new SPLOST to cover the $100 million. Cobb Commission Chair Tim Lee indicated the county could call for a six year SPLOST to be voted on this fall. The current SPLOST expires at the end of 2015. If the BOC approves the plan, which could happen as early as June, the proposed system could be up and running by late 2018 or early 2019.