The Austin-American Statesman reported that Capital Metro will borrow $38.6 million from Banc of America Leasing and Capital LLC to buy six rail cars for its Austin-to-Leander commuter rail line, the transit agency’s board decided unanimously Monday.
The borrowed money will allow the agency to pay Swiss train manufacturer Stadler Bussnang AG up to $34 million for the six diesel-powered rail cars, the last of which is due for delivery in March 2008; $3 million is for spare parts; $917,000 for increases related to fluctuations in the value of the euro and dollar; and $625,000 for borrowing costs.
The purchase of the cars, approved in September but made possible by Monday’s action, represents more than a third of the project’s estimated $90 million cost.
Is the line being developed as a commuter line considered a freight main line or is it a lightly trafficked branch? Also, is there enough potential traffic to justify a rail operation?
The proposed commuter line was purchase by Capital Metro from SP for the long term purpose of providing commuter transit over one of the major commuter routes into downtown Austin. It is a branch line but does carry a considerable amount of freight. The plan is to use time blocks dedicated for freight and time blocks dedicated for commuters.