Told ya. Current cost estimate of the 9.4 mile Blue Line extension: $1.16 billion. Project cost in 2007 of an 11 mile extension along the route: $700 million. Funny how that happens.
And how affordable is the project for CATS? “We have to manage it very closely,” [CATS head Carolyn] Flowers told City Council Monday night. “We are balanced on the head of a pin.” Which, again, would be the point we made here back in 2007.
Bonus observation: Even $1.16 billion isn’t the complete cost. The city’s putting in a far chunk for drainage and sidewalks along North Tryon. Get some cost overruns during construction and we could end up doubling that 2007 cost projection.
27
2012 At 10:43 am, SnowSun Said:
I love how CATS say they have a “firm price” in the article for the extension. Yeah, uh huh. Wonder what else will pop up.
Then at the end, a 4 cent increase in the city property tax rate for “capital program”. So at least 1/8 of that 926 mil will be spent on a streetcar… that does less than a bus can do.
Democrats increase property taxes in a down economy. Again.