100% Cost Over-run

Thanks to a Facebook friend we learned the following.  Charlotte ran construction deficits double their Light Rail budget.

From the Charlotte Business Journal, Friday Sept 2, 2011

“Charlotte’s first light rail line was plagued by cost overruns that pushed the total price to nearly $463 million – double original estimates when it opened four years ago. And the city is still working through audits and negotiations over at least $1.2 million in unresolved billings on its first rail transit venture.”

Read the full article: Click Here

Facebook friend’s commentary: “At that rate, Cobb’s train project would cost nearly one and a half BILLION dollars, and taxpayers would be on the hook for the difference.”