It never ceases to amaze me what is NOT covered in Philadelphia that is REAL news.

Maybe someone out there can get the answer - if this situation applies to SEPTA and/or
AMTRAK? (See article)

It is of import in connection with not only Ardmore - but also TRID in Bryn Mawr, isn't it? Or will we get a "don't worry your precious little heads about it from township staff on this?

From where I sit, if the transit authority is going to be under even more pressure to come up with funding - why oh why would they ever limit their ability to "make available" properties within the designated zone? Wouldn't the boards be remiss in not exercising such capabilities? What do you think?

Thoughts welcomed.

Credit Crisis May Force Metro to Pay Millions
By Lena H. Sun and Binyamin Appelbaum
Washington Post Staff Writers
Friday, October 24, 2008; Page

Metro and 30 other transit agencies across the country may have to pay billions of dollars to large banks as years-old financing deals unravel, potentially hurting service for millions of bus and train riders, transit officials said yesterday.

The problems are an unexpected consequence of the credit crisis, triggered indirectly by the collapse of American International Group, the insurance giant that U.S. taxpayers recently rescued from bankruptcy, officials said.

AIG had guaranteed deals between transit agencies and banks under which the banks made upfront payments that the agencies agreed to repay over time. But AIG's financial problems have invalidated the company's guarantees, putting the deals in technical default and allowing the banks to ask for all their money at once....Transit agencies have met with the Treasury Department to request federal help. The government could back the deals instead of AIG, or it could change tax policy to help the banks and keep them from demanding payments.

Treasury spokesman Jennifer Zuccarelli declined to comment, except to say, "Treasury is aware of this situation."