..... Thought you would find informative this explanation of the Transit portion of President Obama's budget. (see the Politico article for rail budget details).
Note (about the 8th paragraph) the FTA's intent to enter into a full funding agreement with Charlotte on the blue line extension to UNCC. The feds will commit to pay 50%, or $535 million, of the $1.07 billion project and CATs will pay the other 50%. No Property Taxes Involved!
Compare that with the $1.4 billion Red Line revenue requirement (including 30 yrs of operating expenses) and consider the Red Line is about 85% dependent on property taxes and you can see how N. Mecklenburg and Southern Iredell taxpayers are getting (a very bad deal).
We are in this boat, in my opinion, because "the Red Line doesn't qualify" for federal funding....and no one with CATs or the City of Charlotte has wanted to work with the FTA's new proposed funding criteria under which the Red Line probably would qualify..... because then the Red Line would be competing with the blue line extension for limited federal funds.
N. Meck politcos didn't want to play hardball with Charlotte and CATS threw us a bone by agreeing to pay for 25%.......
Opinion - The Red Line Financing model is bad for property taxpayers in North Mecklenburg and South Iredell !!!