WEBVTT

NOTE duration:"00:01:17.3090000"

NOTE recognizability:0.874

NOTE language:en-us

NOTE Confidence: 0.84496677

00:00:00.000 --> 00:00:02.611
Boomtown SKU's in depth. Look at growth

NOTE Confidence: 0.84496677

00:00:02.611 --> 00:00:04.930
all across Central Texas. You know

NOTE Confidence: 0.84496677

00:00:04.930 --> 00:00:07.174
Austin, feeling the impact of that

NOTE Confidence: 0.84496677

00:00:07.174 --> 00:00:09.430
growth, especially when it comes to

NOTE Confidence: 0.84496677

00:00:09.430 --> 00:00:10.998
transportation, Mm-hmm in 2020

NOTE Confidence: 0.84496677

00:00:10.998 --> 00:00:12.566
voters approved a multibillion

NOTE Confidence: 0.84496677

00:00:12.566 --> 00:00:14.075
dollar transportation project to

NOTE Confidence: 0.84496677

00:00:14.075 --> 00:00:15.427
add more transportation methods.

NOTE Confidence: 0.84496677

00:00:15.430 --> 00:00:17.518
Now parts of the project could

NOTE Confidence: 0.84496677

00:00:17.518 --> 00:00:19.550
cost double the original estimate.

NOTE Confidence: 0.84496677

00:00:19.550 --> 00:00:22.375
KB's Jenny Lee looks into

NOTE Confidence: 0.84496677

00:00:22.375 --> 00:00:24.170
the numbers. Brian and

NOTE Confidence: 0.8861068

00:00:24.170 --> 00:00:26.138
Ashley. The new estimates only affect

NOTE Confidence: 0.8861068

00:00:26.138 --> 00:00:28.130
the light rail lines and tunnel,

NOTE Confidence: 0.8861068

00:00:28.130 --> 00:00:30.552
not the other parts of project connect

NOTE Confidence: 0.8861068

00:00:30.552 --> 00:00:32.866
the orange light rail run North and

NOTE Confidence: 0.8861068

00:00:32.866 --> 00:00:35.060
South and the blue light rail well.

NOTE Confidence: 0.8861068

00:00:35.060 --> 00:00:36.710
You can see runs from

NOTE Confidence: 0.8861068

00:00:36.710 --> 00:00:38.030
downtown to the airport.

NOTE Confidence: 0.8861068

00:00:38.030 --> 00:00:39.944
The base estimate for the two

NOTE Confidence: 0.8861068

00:00:39.944 --> 00:00:41.989
lines and tunnel was $5 billion,

NOTE Confidence: 0.8861068

00:00:41.990 --> 00:00:44.027
but now that's going up by four

NOTE Confidence: 0.8861068

00:00:44.027 --> 00:00:46.421
and a half billion dollars for a

NOTE Confidence: 0.8861068

00:00:46.421 --> 00:00:48.587
total of more than 10 billion.

NOTE Confidence: 0.8861068

00:00:48.590 --> 00:00:50.570
A new report from the Project

NOTE Confidence: 0.8861068

00:00:50.570 --> 00:00:51.890
Connect team says inflation,

NOTE Confidence: 0.8861068

00:00:51.890 --> 00:00:53.700
supply chain issues, and rising.

NOTE Confidence: 0.8861068

00:00:53.700 --> 00:00:55.872
Real estate values are driving up

NOTE Confidence: 0.8861068

00:00:55.872 --> 00:00:58.630
the cost back in November of 2020,

NOTE Confidence: 0.8861068

00:00:58.630 --> 00:01:01.136
Austin voters approved a property tax rate

NOTE Confidence: 0.8861068

00:01:01.136 --> 00:01:03.549
increase to help fund project connect.

NOTE Confidence: 0.8861068

00:01:03.550 --> 00:01:05.445
A spokesperson for Cap Metro

NOTE Confidence: 0.8861068

00:01:05.445 --> 00:01:07.340
says as costs go up,

NOTE Confidence: 0.8861068

00:01:07.340 --> 00:01:09.235
there is not a requirement

NOTE Confidence: 0.8861068

00:01:09.235 --> 00:01:11.130
to change the tax rate.

NOTE Confidence: 0.8861068

00:01:11.130 --> 00:01:11.541
Instead,

NOTE Confidence: 0.8861068

00:01:11.541 --> 00:01:13.596
the project Connect team could

NOTE Confidence: 0.8861068

00:01:13.596 --> 00:01:15.240
change how construction is

NOTE Confidence: 0.8861068

00:01:15.312 --> 00:01:17.304
phased out to help balance fund.