SEPTA’s draft spending plan would defer or scale back 44 planned infrastructure projects because of a $3 billion gap between the costs of the work and available funding, The Philadelphia Inquirer reported.
The transit agency plans to save $1.8 billion by pausing projects and reducing the scope of others. $1.2 billion would be borrowed to keep urgent projects moving forward.
“Major construction cost increases in our industry are forcing us to defer projects,” Brian McFadden, director of capital budgets for SEPTA, told The Inquirer. Costs for construction of transportation projects has risen about 62% over the past four years…