Management & Operations

CATS looks at funding options

Posted on June 6, 2006

Charlotte Area Transit System (CATS) executives are considering local and private sources for funding if competition for federal dollars edges out the city’s plans for new rail corridors, according to the Charlotte Business Journal. With competition from other cities intensifying, as public and civic leaders call for sustainable development, the federal criteria for funding has gotten stricter in recent years, making the application process increasingly difficult. Bank of America confirms preliminary discussions with the city about structuring a financing arrangement that would not include federal funding. Federal mass transit funds cover half of the $427 million capital cost for the south corridor line that is currently under construction, with the state paying slightly more than 25% and a voter-approved half-cent sales tax covering the rest. CATS has pledged to build a $3 billion rail, streetcar and rapid-bus system over the next decade, but failure to land federal funds would slow progress unless other sources of funding are found.

View comments or post a comment on this story. (0 Comments)

More News

Laketran promotes Capelle to GM post

Ben Capelle will succeed Ray Jurkowski, who announced his retirement earlier this year and has served Laketran as GM since 2003.

Congressional leaders ask FCC to investigate impact of MBTA Wi-Fi project

The project would mean the installation of hundreds of 74-foot poles along every mile of track. However, as affected communities have learned details about the project, opposition has continued to gather steam.

COTA appoints interim president/CEO

Emille Williams, the agency's current VP, operations, will take over the position on Oct. 1 after the departure of current President/CEO W. Curtis Stitt.

Calif.'s SolTrans taps Kranda as executive director

Beth Kranda, who succeeds Mona Babauta, currently serves as Deputy Director of Transit, the City of Santa Rosa’s senior transit position.

City of New York makes recommendations for MTA subway plan

The plan from Mayor Bill de Blasio and his team comes ahead of the release of the MTA's so-called "subway turnaround plan" next week.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close