The Board of Directors for the Metro Transit Authority of Harris County, Texas has approved a referendum for the Nov. 5, 2019, ballot, allowing voters to consider $3.5 billion in bonding authority for the agency.
This would benefit the METRONext plan, which includes 75 miles of METRORapid bus services and investments into 21 new or improved Park & Rides, transit centers, and accessibility improvements. The plan calls for around 40 transit projects in all, which also includes projects like 16 new miles of light rail, expanded two-way HOV/HOT lanes and providing optimized bus service along heavily traveled routes.
The bonding authority, if approved, would give METRO the ability to issue bonds, notes, and other obligations payable from 75 percent of METRO’s sales and use tax revenues for the transit authority system. Further, up to 25 percent of the METRO’s sales and use tax revenues would continue to be available for use on street improvements, mobility projects, and other facilities and services through Sept. 30, 2040.
The bonding authority also assures residents that no new tax increases would be associated with the implementation of this plan.