MARTA officials today said in a press release that a new economic forecast predicts the transit agency's budget woes will worsen.
The latest economic forecast issued in December 2008 for MARTA by the Georgia State Economic Forecasting Center predicts a further worsening of its current fiscal crisis by an additional $10 million. The forecast also predicts MARTA will experience a cumulative loss of more than $1.2 billion in sales tax revenue over the next ten years that is up an additional $588 million from its fall 2008 report.
Last month, MARTA which, it will be noted once again, is the metro region's largest transit agency and the only one in the nation that doesn't receive operating funds from the state announced it faced a $60 million operating budget shortfall for the fiscal year. MARTA officials asked lawmakers two weeks ago to allow greater flexibility for the one-cent sales tax revenue that funds more than half the agency's operations.
Agency officials will hold a series of meetings next week to inform the public about potential changes. (The list of locations follows after the jump.)
And on that cheerful note, I'm out of here. Have a great weekend!
COMMUNITY MEETING SCHEDULE
Thursday, January 7, 2009
6 p.m. to 9 p.m.
215 Sycamore Street
Decatur, Georgia 30030
MARTA: Take the train to Decatur station (E6). The Library is located directly across from the station.
College Park Safety Complex
Wednesday, January 8, 2009
6 p.m. to 9 p.m.
3717 College Street
College Park, GA 30337
MARTA: Take Bus Routes 72 or 78 from the College Park station (S6).
Saturday, January 10, 2009
10 a.m. to noon
2424 Piedmont Road
Atlanta, Georgia 30324
MARTA: Take the train to the Lindbergh station (N6). MARTA Headquarters is located directly across from the station.
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