It will cost Charlotte City Council $91 million to purchase 22 miles of Norfolk Southern’s O-Line for the Red Line commuter rail.
Charlotte City Council will vote next Tuesday on the purchase. Of the $91 million, $74 million is for the 22 miles of track from Uptown Charlotte to the Mecklenburg County line.
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Charlotte Area Transit Authority started the discussion on the Red Line in 1998. It’s a plan that has been promised and never delivered.
“We are in this moment, feeling what I think many former colleagues and predecessors wish they had made possible and we have the opportunity to now make it possible,” said Mayor Vi Lyles.
The always pie-in-the-sky project is now within grasp.
“I can’t think of a more impactful opportunity for us to have a generational shift, not only for our city, but for our region,” said Mayor Pro Tem Dante Anderson.
The remaining $17 million is to purchase 1.6 acres adjacent to the Gateway Station in Uptown for a Red Line station and station tracks. In addition to a vote on the $91 million, Charlotte City Council will vote next Tuesday on a resolution to endorse a sales tax increase for transit.
Plans call for a commuter rail from Uptown Charlotte to Mount Mourne, Iredell County. Charlotte City Council’s action next Tuesday will preserve the corridor in Iredell County but not purchase it. Such a purchase will only happen if Iredell County and the town of Mooresville formally approve the purchase.
The $91 million will be financed by the city of Charlotte via variable-rate financing for five years.
It’s risky because the money won’t be reimbursed until, and if, a sales tax increase passes.
“When you endeavor on anything transformational, there are always risks involved,” Anderson said.
“There is a danger we end up owning this thing and I don’t think we should pussy-foot around on that,” said Councilman Ed Driggs.
And it’s not fully funded. Charlotte City Council will have to spend another $17.75 million to extend the line into Iredell County. That won’t happen, along with a proposed Mount Mourne stop unless Iredell County and Mooresville said they want it.
While the Red Line moves forward, questions loom about the future of the Silver Line.
City staff said there have not been final decisions about converting the proposed rail line for Matthews and east Charlotte into Bus Rapid Transit.
Councilwoman Dimple Ajmera is concerned those communities are being left out.
“No one is a winner but the east side and Matthews is a loser,” said Ajmera.
The deal is expected to close on Sept. 9.
VIDEO: Red Line: Charlotte City Council tries to keep up with deadline set by railroad
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