Re: CTC tells NCRA to deliver shutdown plan
Author: Reader
Date: 07-01-2017 - 18:42
NCRA is the public agency overseeing the entire line and contracting to NWP, a private company. The CTC is instructing NCRA to provide a business plan that somehow shows at least a break even point without one time property sales and using Caltrans property as collateral for existing loans. A plan to shutter the agency itself, and in turn the freight side was also requested as it appears unlikely NCRA can make it pencil out.
In response Stogner said NCRA wants more taxpayer money to stay afloat. He claimed only the legislature could shut them down then made a threat to shutter NCRA himself and leave the state responsible. That seemed an odd way to go about begging for funds. Bosco claimed NWP's ops were profitable despite reciting a laundry list of expenditures in the multi-millions and complaining about the costs associated with operating over SMART trackage. The commision seemed unmoved by either man's arguments.