SANDAG’s faulty economic forecast system, which the agency knew about but didn’t acknowledge until after Andrew Keatts revealed the problem, isn’t the only thing that’s been obscured from public view.
This week, Keatts reported that the agency in charge of regional transportation projects also hid the fact that the cost of the projects it promised to voters in the TransNet program have risen by about $8 billion.
It’s now clear that SANDAG’s revenue projections were far too high and its estimated project costs far too low, which means there’s now a $17 billion funding shortfall.
In this week’s podcast, hosts Scott Lewis and Keatts talk about SANDAG’s botched numbers and what it could mean for the future of transportation in the region.
SoccerCity Proposal Numbers and Its SDSU Problem
The investors behind the SoccerCity proposal want to turn Qualcomm Stadium and the parking lot surrounding it into a mixed-use development that includes a joint-use Major League Soccer and San Diego State football stadium, housing, an entertainment district and a big river park.
Among the plan’s detractors is Carl DeMaio, a radio host who’s been talking about how the plan would mean a measly $10,000 payment to the city for the Qualcomm Stadium site.