AUSTIN (KXAN) — The Austin Transit Partnership’s board of directors approved Wednesday a $190 million spending budget for fiscal year 2023-24, with key focuses on light rail capital funding, CapMetro projects and anti-displacement funding efforts.
Under the now-approved spending plan, $115 million will go toward the Austin light rail capital fund. That chunk of change breaks down into $11 million for right-of-way and real estate acquisitions, $58 million in professional services and $46 million allocated to administrative expenses like personnel, business support contracts and other materials.
Of that $115 million portion, $82 million extend from appropriations remaining from previous years, with $33 million marked as new appropriations.
Approximately $23 million will go toward CapMetro project components. Those include:
- $4 million for McKalla Station
- $9 million for MetroRapid Expo Center line
- $10 million for MetroRapid Pleasant Valley line
ATP’s FY24 expenditure budget denotes that $52 million would go toward anti-displacement funding. That is divvied up in the following buckets:
- $23 million in land acquisition, preservation, rehabilitation
- $16 million in affordable housing development
- $11 million for programs and other strategies
- $2 million for staffing, community engagement, and marketing
The bulk of budgetary funds are previously appropriated dollars, particularly from the Proposition A property tax revenues approved by voters in November 2020.
The newly approved expenditure budget also includes a 3.5% wage increase for ATP employees.
“Retaining our ATP team members is crucial for our work ahead. I am recommending a 3.5 percent wage increase for our employees and wish to express my gratitude for the hard work and service of our talented professionals,” ATP Executive Director Greg Canally said in the budget documents.