City officials to discuss funding for streetcar extension project

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CHARLOTTE, N.C. - The Charlotte streetcar extension will be the center of a discussion at a special budget meeting Monday between City Council and Mayor Anthony Foxx.

The project has been approved, but the funds are not there.

The council decided not to raise taxes for next year’s budget.

The debate is whether to extend the line to Johnson C. Smith University. To do so, it could cost the city $119 million. 

 An extension to Time Warner Cable Arena has already been approved.  The cost for that is $37 million, with $25 million coming from a federal grant.

The city manager’s proposal to pay for the $119 million extension from the arena to the university would mean increased property taxes.

Overall, the city is looking at footing the bill for about 84 percent of the project costing a total of more than $130 million.