Gov. Bev Perdue is scheduled to outline a plan today to finish construction of the Interstate 485 loop around Charlotte using what an administration official says is a novel financing method that won't touch money pegged for other road projects.
Officials said yesterday that Perdue is scheduled to reveal the financing method that would pay for the last segment of the loop, between N.C. 115 and Interstate 85 in northeast Charlotte. The price tag is estimated at $220 million.
The financing method has never been used in North Carolina, and it won't touch money set aside for scheduled improvements to Independence Boulevard or any other local project, according to a state government offical who didn't want to be identified because they weren't authorized to speak about the plan.
Charlotte Mayor-elect Anthony Foxx, a Democrat, said he didn't know many details of the financing plan. But he said that completing the loop would "not only help with mobility in the region" but also help repair historically strained relations between Charlotte and state leaders in Raleigh. The project originally was scheduled to be finished by 2003.
Email
Facebook
Google
Twitter
Favorites
More
Advertisement