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Finance Minister Charles Sousa said there is a pent-up demand among ecologically minded investors for these bonds, which he hopes will enable the government to pay a lower interest rate than they do on conventional bonds, according to the report.
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Advertising is again the most-used method of generating revenue (81%). Forty-one percent raised fares, while 33% tapped public-private partnerships to bolster their coffers.
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The original estimate $125M estimate to build the four-mile line did not include the cost of utility work, as well as other costs, which could create a funding gap of almost $200M.
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Forty percent cite these factors as their top daily obstacles. Meanwhile, ridership continues to rise, with two-thirds of operators reporting increases.
Read More →The cost has risen from $180,000 in 2009 to slightly less than $900,000 this year as demand from senior and disabled residents increases. Some cities and towns have cut their contributions to the service.
Read More →In its first year, the popular program exceeded expectations. University officials said if the popularity of the program continues, they will try to add 10 to 15 new bicycles every year going forward.
Read More →The $500,000 cost is split between Lee County and the university; however, the county is facing a $34 million deficit while the university is running out of the money used to fund this route.
Read More →A former DOT official said Raleigh could have $15 million of the uncommitted funds for Union Station, but the FRA said rail upgrades between Raleigh and Charlotte had already consumed the money.
Read More →During the previous four rounds, the U.S. DOT received more than 4,050 applications requesting more than $105.2 billion for transportation projects
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Funding for the special transportation has been cut for five years in a row because it is tied to revenue from Atlantic City casinos — which has dropped by 30% since 2011, as gambling proliferates in nearby states.
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