Local transit officials will get an update Wednesday on how much Charlotte’s multi-billion dollar transit plan is expected to cost—and what they might pay for first.
The Charlotte Area Transit System last updated the cost estimates for proposed rail lines in May. At that time, the Silver Line from uptown to Matthews cost $5.7 billion, and the Red Line commuter train from uptown to Lake Norman cost $850 million.
Seven months later, both are expected to cost more, along with other projects like Gold Line streetcar; an extension of the Blue Line light rail to Ballantyne, and light rail to the airport.
The new estimates are important because Charlotte and other local governments have agreed to spend no more than 40 percent of any new revenue from a one-cent sales tax on rail transit. That was done to try and please Republican lawmakers in Raleigh, who want more money for roads.
That means some rail projects just can’t be built.
The Metropolitan Transit Commission will discuss the new estimates—as well as which projects to prioritize—in a 5-hour meeting Wednesday. After agreeing on a new plan, they’ll have to go to Raleigh for permission from the General Assembly, and then Mecklenburg voters for a referendum on the sales tax.
