Sam,
Looking over the budget you posted, the only place I can see to get more money to pay for the tram is the So.Wa. LID. That comes from developers and property owners who have not offered up a single additional penny to cover cost over-runs. They are the ones who have been so gung-ho about the tram from the start and who stand to make bundles developing the area. If the tram gives value to their projects, why were they not tapped last April on the occasion of the last cost over run, and how long are they going to be playing OHSU and the city for suckers every time the price goes up? Originally they were paying 29% of the budget, then 24.6%, and only 17.5% as of the last cost over run. If they paid 25% of the cost thru the So.Wa. LID you would have enough to pay for the lastest budget.
If you can't cover the additional costs of the tram without raising the So.Wa. LID then you need to pull the plug, Dude. There is no way in heck that you can justify spending more TIF money on the tram. That money is for public improvements in the URD, including the greenway, parks, and streets and we can't wait years for those improvements to happen. The greenway needs to be happening now! Many local improvements were promised as part of the tram project and the city needs to make those happen soon to keep faith with neighbors impacted by the tram, OHSU expansion on the hill, and So.Wa. development. And I am sure you have already heard an earful from people who don't want the tram project to take money from other transportation projects throughout the city. The city can not afford to spend any more money on this project. It may well be cheaper to cancel the project and pay the penalties than to push on at all costs. Time to play hardball, Sam. You're The Commish: make them an offer they can't refuse.