By Roland Murphy for Arizona Builder’s Exchange
The City of Phoenix has released its first progress report detailing plans launched and goals met during the Transportation 2050 initiative’s first 18 months of operation.
T2050 was approved by voters in August, 2015 to fund aggressive expansion for the city’s long-term transportation goals. The city sales tax component of the program is expected to generate roughly $16.7B over its 35-year course, half of the total expected budget for all the targeted projects. Federal and regional funding, combined with passenger fares, are targeted to bring in another $14.8B. According to the report, 86 percent of the program monies are dedicated to public transit, with the remainder targeted on existing street-related funding.