Candidate Brigid Shea Calls for F1 to pay their fair share on New Road,
free up funds for flood relief
November 15, 2013 — Austin, Texas — Former Austin City Council member and current candidate for Precinct 2 Travis County Commissioner, Brigid Shea is calling on F 1 to follow the County’s standard procedure *and pay their 50% share of the $16.6 million road subsidy. That would free up over $8 million dollars to provide relief to the flood victims in SE Austin. Shea also supports Commissioner Todd’s efforts to stop the County from spending its reserve funds for the new road for F1 until the cost of the flood damage is known.
Todd opposed spending reserve funds for the F1 road at Commissioners Court this week. “We don’t know what the dollar amount is,” said Todd. “Until we know, making decisions about spending money out of any reserve raises a serious question in my mind about capabilities… I think it would be prudent financially for us to wait until we have that information before moving forward.”
Ultimately, the court voted 3-1-1 to approve the issuance of certificates of obligation for additional funding for the Formula One road work.
“I believe the county’s priority should be its citizens and not the special interests of a few,” Shea said. “It is unacceptable to tell flood survivors that we have money to give handouts to corporations but not to help them in their time of greatest need. I applaud Commissioner Todd for his efforts Tuesday to stop the county from dipping in to reserve funds until all the expenses from the flood are calculated.”
*Travis County road bond election language since 2005 has required a 50-50 cost share with private entities. The exact language used in the bond documents reads as follows: “Potential Public-Private Partnership with private sector reimbursing County for up to 50% of project costs over a period of time to be negotiated”
FOR IMMEDIATE RELEASE
November 15, 2013