Let me tell you how I feel about the big project to build parks, lakes and roads along the Trinity River downtown. I love it. We need more Austin here, less Waco.
It costs money. We have to borrow. We have to pay more taxes. It's an investment.
But look. This is also like a car deal. We went to the showroom in 1998 when we voted to let the city borrow $246 million for the Trinity River Project. We chose a fancy one—the Lexus SUV with the leather and the mag wheels and the two DVD players and the GPS navigation.
Now it's eight years later. They're trying to get us to take this Ford Escape with steel rims, cloth seats, a cheap portable CD player with earbuds and a map of Texas in the glove box. And the contract says we could owe them a billion dollars.
Wick Allison, the publisher of D magazine, has devoted his entire publisher's note in the December edition to a discussion of whether Jim Schutze—that would be moi—has been telling the truth or distorting the facts about the Trinity Project. He doesn't come right out and say it, but I think his implied conclusion is that Jim Schutze smokes crack.
So first off, let me take you back to what we saw in that showroom eight years ago. Before the 1998 bond election the "We Love Dallas" bond campaign committee published a brochure showing a sailboat regatta on a lake the length of downtown with a huge fountain in the center and promenades and terraces on the downtown bank.
The brochure's promise to voters was clear and explicit: "If you've ever taken a stroll down San Antonio's Riverwalk, sat by a lake in New York's beautiful Central Park, or driven along Austin's scenic Town Lake, then you know how valuable these recreational resources are to a city...
"With absolutely no tax increase to Dallas citizens, the Trinity River Project is the key to making 21st Century Dallas a world-class city—an 8,500-acre greenbelt bursting with new business and entertainment."
Fast-forward. Right now as the project stands, my calculations are that Dallas taxpayers are on the hook for an additional $1.125 billion, over and above the 1998 bond money. I had a big, long argument about this with the mayor, the city manager and two top officials several weeks ago. They said I had wrongly included $330 million for the Calatrava bridges.
I say I'm not wrong. But just for grins, let's take the $330 million out. So now the taxpayers are on the hook for $795 million extra, over and above what we voted for in 1998. Even with their correction for the bridges, the amount of money sitting on our tab right now is three times what we have already put in.
In previous columns, I have listed all of the features that have been removed from the project we voted for—little details such as the main water supply for the lakes, roads to get to the lakes, trails, the terraces, the promenades and so on. But let me go at this a little differently this time.
In response to my open records demand, Trinity Project director Rebecca Dugger provided me with numbers to show the ultimate cost of each portion of the plan as it exists now. She also gave me the amounts available from the 1998 bonds and all of the money that has been found from other sources to help pay for the project.
I put all this in a simple spreadsheet and figured the shortfalls. Let me just give you some highlights. According to the city's own official numbers, provided to me in response to a legal demand for them, the cost for building trails alone will be $36.149 million.
Of that, the bond money will pay for $10.256 million. The city told me it had found $7.067 million from other sources. That leaves a shortfall of $18.826 million for the trails.
Look at it again. The money we approved eight years ago now only pays for 28 percent of the cost of the trails. The city has persuaded other entities to pick up an additional 20 percent. That means you and I, dear local taxpayer, are on the books for an additional 52 percent or almost 19 million bucks just for trails.
I sat at a conference table in City Hall and challenged the mayor, the city manager, Dugger and Assistant City Manager Jill Jordan to show me where my shortfalls were wrong. I gave them my spreadsheets.
Here are samples of the things they did not argue with: a $16 million shortfall to make the river curvy instead of straight; a $50 million shortfall for park roads; a $19 million shortfall for digging out the proposed lakes; a $27 million shortfall for improvements to S.M. Wright Boulevard.