A gloomy consultant report on I-35 caps
Skepticism is building.
City Council members today publicly digested a consultant report that flatly described the proposed caps on I-35 as a poor public investment.
The analysis by Hayat Brown, a national engineering and advisory firm that specializes on capital projects, concluded that the cost of the caps would far exceed the revenue they would generate through increased property valuations or commercial leases on the caps themselves.
The report came out a week after news that a $105 million federal grant the city had been counting on to help build the Cesar Chavez to 4th St cap would likely be clawed back by Republicans in Congress. It also comes when the legislature is considering a bill that would make it much harder for local governments to issue debt (certificates of obligation) without voter approval.
