Tentative funding approved for Lone Star Rail

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by KVUE.com

kvue.com

Posted on December 13, 2013 at 7:17 PM

Updated Friday, Dec 13 at 7:20 PM

AUSTIN -- The city is one step closer to finalizing its deal with the Lone Star Rail District.

The city council approved tentative funding to create a commuter line from Georgetown to San Antonio. It would include seven train stations in Austin.

At first, the district requested 50 percent of property taxes and almost immediate access to the money. The council scaled back and approved a plan to withhold funding until the district can secure an estimated $3 billion from other sources.

"We need the local commitments first, then we can go speak to the potential capital funders, which include the federal government, state government and private sources," said Joseph Black, rail director of the Lone Star Rail District.

The city and district haven't agreed on the percentage of property tax. They're expected to make that decision in the spring.

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