posted on February 07, 2012 05:37
The Red Line Task Force is holding a public workshop on Thursday, Feb. 23 regarding financing for the Red Line Regional Rail project. The workshop will be held from 3 – 6 p.m. at Huntersville Town Hall, located at 101 Huntersville-Concord Road. Anyone interested in learning more about the project and the finance plan is encouraged to attend.
As the project currently stands, financing would include public-private partnerships where the private sector would assume financial risks, ensuring that the project will be delivered on-time and on-budget. Representatives from the underwriting firms of Guggenheim Securities and Stone & Youngberg will be available to answer questions and explain how the financial process works. These firms reviewed the initial financial projections for the Red Line and their input was incorporated as part of the draft Business/Finance Plan for the project.
This workshop is one of several outreach meetings taking place during the 90-day review period of the draft Business/Finance Plan for the Red Line Regional Rail project. Meetings will take place through March in each of the municipalities along the corridor that will allow elected officials, stakeholders and the general public to examine and discuss the draft plan and submit comments. Upcoming Red Line meeting details can be found online at http://redlineregionalrail.org/project-calendar/
Feedback from these meetings will be incorporated into a Consensus Plan for the Red Line Regional Rail project, which will be released in early April. Once the plan is released, the nine jurisdictions involved with the project will then be asked to vote on all elements of the plan by June 30.
The jurisdictions include Mecklenburg and Iredell counties, the towns of Cornelius, Davidson, Huntersville and Mooresville; the city of Charlotte; the Charlotte Area Transit System and the N.C. Department of Transportation.
The Red Line Regional Rail project is an economic development initiative designed to improve the movement of both goods and passengers along a 25-mile rail corridor from Mooresville to Charlotte. For more information on the Red Line Regional Rail Project, and to submit questions and comments to the project team, visit www.redlineregionalrail.org