Recall that CATS plans to rely on Cherokee Investment Partners to make the numbers work for the $373 million North commuter line to Davidson. That plan needs $76 million in tax increment financing paid for with future property tax dollars to work.
Meanwhile in New Jersey, a Cherokee subsidiary continues to have massive trouble making the numbers work on a multi-million dollar development project in the Meadowlands. EnCap Golf Holdings announced on Friday that the cost of prepping old landfills for development jumped $70 million to $186 million.
State officials continue to question EnCap about the project, which started in 2004 and is already about a year behind schedule.
But, hey, we’re “place making” in Charlotte so I’m certain everything will go according to plan.
