A new transportation study group representing 11 local governments and businesses in Denver’s northern suburbs will spend $6,500 to hire a consulting group to review what the group’s chairman calls “flawed” financial projections for the FasTracks transit project, the Denver Business Journal reports.

The North Area Transportation Alliance will hire BBC Research & Consulting, based in Denver, to look at assumptions about FasTracks costs and revenues made by the Regional Transportation District in its annual project review submitted earlier this year to the Denver Regional Council of Governments.

“The dramatic shortfall of funds to complete FasTracks has put communities and businesses in the North Metro area in jeopardy of not getting the transit benefits they were promised in 2004,” Thornton Mayor and NATA Chairman Erik Hansen said in a statement. “Shockingly, it now appears that the refined and updated projections are also flawed. It will be impossible for us to find agreeable solutions for completing FasTracks until the financial plan is based on realistic assumptions and projections.”

Read the entire article at the Denver Business Journal.