If for some reason you haven’t already picked up your Rhino Times, do so now or risk missing actual details on CATS light rail spending plans. With only $14.6 million left in the contingency fund to cover cost surprises, you’ll see the South Blvd. line is cutting it fine:
A construction bid for light rail stations and park-and-ride lots came in nearly 100 percent over budget, which would have tacked an additional $26 million in overruns to a project that has already exceeded original cost projections by some $200 million. The contract was to install platform shelters, seating, landscaping, lighting, signage and pedestrian access at 15 transit stations and complete work on six park-and-ride lots. The original budget for the contract was $27.5 million; the contract bid came in at $53.9 million.
Even the illusion of staying on-budget will be impossible to maintain should elements of the project continue to come in 100 percent over budget. Worse, the pressure to use Charlotte’s general fund revenue to pay for light rail — something we were told would never, ever, never happen — is increasing.
