U.S. public transit agencies haven’t yet seen the bottom of a pandemic-induced fiscal crisis.
S&P Global Ratings dropped Bay Area Rapid Transit’s (BART) credit rating two notches last week. The new credit rating of A+ will make it more expensive for BART to borrow money—all while facing an increasingly dire fiscal cliff.
An article by Skylar Woodhouse for Bloomberg explains that BART might not be the only transit agency facing credit rating adjustments. BART is” one of several public-transit agencies put on notice by S&P, including the San Francisco Municipal Transportation Agency and DC’s Washington Metropolitan Area Transit Authority,” according to Woodhouse.
“New debt sales by public transit systems are already depressed. Municipal-bond issuance for mass transportation totaled about $4.3 billion this year, down about 44% from the same period in 2022 and the lowest since 2018, according to Refinitiv data as of May 25,” adds Woodhouse.
The fiscal plight of BART and public transit more generally was also the subject of an on-air segment on WBUR’s Here and Now.
[Update: news broke late last night that California Governor Gavin Newsom and Democratic legislative leaders had stuck a deal to prevent service cuts on BART and other transit systems in the state. More coverage of that news to come.]
FULL STORY: US Public Transit Systems Face Credit Downgrades as Riders Stay Away
Breaking: Budget Deal Saves California’s Transit Systems, For Now
California state political leaders last night struck a deal to keep the state’s transit systems afloat as ridership continues to recover and federal pandemic stimulus money runs dry.
Opinion: Free Fares Won’t Solve the Transit Crisis
“The biggest US transit agencies must be allowed to simply focus on delivering high-quality service. There is no Plan B.”
The Deepening Transit Crisis: L.A. Times Reports Drug Use on Transit
An article by the L.A. Times earlier this week has raised the temperature of the debate about drug users and crime on rail transit. Concerns about public safety on transit are a common symptom of post-pandemic transit around the country.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
Test News Post 1
This is a summary
Test News Headline 46
Test for the image on the front page.
Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service