And I can see why Team Obama is so thrilled with Mayor Foxx as he buys into the administration’s agenda of spending money on transportation projects without a clue on how to pay for them:
Charlotte faces a $3.3 billion funding gap to complete its transit corridor plan, and the price tag is likely to increase because of future delays to secure financing.
Those grim numbers were disclosed this week as part of a presentation to a transit funding work-study group formed at the suggestion of Mayor Anthony Foxx.
Jeffrey Parker, head of the infrastructure advisory group at Ernst & Young and a frequent adviser to the Charlotte Area Transit System, outlined the projections during the 30-member study group’s meeting at the Government Center. The figures exclude the Blue Line Extension, a 9.3-mile, $1.2 billion light-rail line scheduled to open in 2017. Construction is expected to begin in January for the line spanning uptown to UNC Charlotte.