Mecklenburg's transit agency, the Metropolitan Transit Commission, is launching a study group to look at how to pay for future transit projects.
According to a news release from Charlotte Mayor and MTC Chairman Anthony Foxx's office, the working group's leaders will be Huntersville Mayor Jill Swain, a Republican, and Charlotte City Council member David Howard, a Democrat who chairs the council's Transportation and Planning Committee.
Finding new money for transit projects beyond the Blue Line Extension has been difficult. Revenues from the half-cent sales tax for transit tumbled after the 2008 financial crash. Federal funding is highly competitive, and state transit funding has been cut and with a Republican-led General Assembly, may be cut further. The study group will look at a variety of transit-funding strategies, including tax-increment financing, synthetic tax-increment financing, special tax districts, and more.
According to a news release from Charlotte Mayor and MTC Chairman Anthony Foxx's office, the working group's leaders will be Huntersville Mayor Jill Swain, a Republican, and Charlotte City Council member David Howard, a Democrat who chairs the council's Transportation and Planning Committee.
Finding new money for transit projects beyond the Blue Line Extension has been difficult. Revenues from the half-cent sales tax for transit tumbled after the 2008 financial crash. Federal funding is highly competitive, and state transit funding has been cut and with a Republican-led General Assembly, may be cut further. The study group will look at a variety of transit-funding strategies, including tax-increment financing, synthetic tax-increment financing, special tax districts, and more.