Financial plan revisions in the works

by Eren Tataragasi



HUNTERSVILLE – Consultants with the Red Line Regional Rail project have launched an interactive map of proposed tax districts that will help pay for construction.

The N.C. Department of Transportation paid $1,800 for the map, which also shows 10 station locations along the 25-mile commuter and freight line from Charlotte to Mooresville.

Users can zoom in on areas of interest and click on individual parcels of land to see property details.

The map could change as the project evolves.

Consultants are revising the Red Line’s business plan as partners, namely Iredell County and Norfolk Southern, have told consultants they can’t support the project as written.

Revisions could potentially remove special assessment districts if recommendations from local business owners and developers are taken into account. Such districts would increase the taxes of businesses and developments along the Red Line to fund the project’s construction, because consultants believe those businesses would eventually benefit from their proximity to the rail line.

But developers contend that special assessment districts will strain business.

All seven local governments – Charlotte, Cornelius, Davidson, Huntersville, Mooresville and Iredell and Mecklenburg counties – have reviewed the draft financing plan and provided feedback in various forms, said Katherine Henderson, owner of KKH Consulting.

Mooresville and Cornelius submitted written recommendations for the plan, which can be found in the document library of the Red Line’s website, www.redlineregionalrail.org.

Henderson anticipates written input from the Charlotte Transportation Planning Committee in April.

“Work is already under way to develop and test the financial viability of potential changes to the draft business/finance plan, based on input received during the review period,” Henderson said.

This work will continue through April, incorporating additional recommendations from Charlotte, Henderson said. Then Red Line Task Force members will have to determine the next appropriate steps, including the schedule for announcing the revisions to the financial plan.

To view the interactive map and read the written input provided by area municipalities, visit www.redlineregionalrail.org.