KEY TAKEAWAYS
PayGo funding to effectively address the growing demand for street infra- structure maintenance. This funding gap highlights the need for alterna- tive solutions or expanded funding mechanisms to ensure sustainable infrastructure upkeep. Fund Balance for Street Transportation Projects The Fund Balance for Street Transportation Projects, depicted in Figure 02-21 , has also seen a dramatic rise, with a 140% increase from $49 million in 2021 to $120 million in 2023. This growth reflects proactive efforts to build a buffer for future projects. However, while this increase is a positive step, the current demands still exceed available resources, reinforcing the need for continued funding expansion.
FUNDING INCREASES
Two primary funding sources have recently seen significant increases, with PayGo funding up 77% and transportation impact fees up 45%.
ONGOING DEMAND
Even with increased funding, the demand for street maintenance continues to exceed available resources.
FUNDING SHORTFALL
Figure 02-21: Fund Balance For Street Transportation Projects
Fort Worth requires an additional $66.1 million per year to bridge the gap and adequately maintain its infrastructure.
SUSTAINABLE SOLUTIONS
Figure 02-20: Transportation Impact Fees
Addressing this funding gap will be critical as Fort Worth grows, necessitating strategic exploration of new or expanded funding mechanisms.
Figure 02-19: PayGo Funding
See Appendix 2 for a more comprehensive financial review, including potential funding sources for transportation projects.
MOVING A MILLION | STATE OF THE SYSTEM REPORT
32
Made with FlippingBook - professional solution for displaying marketing and sales documents online