Friday, July 11, 2014
County Will Forego Federal Funding for Pike Streetcar
Press release from the County Manager's Office is on-line regarding the Pike streetcar funding decision. As discussed during a recent CIP work session County will forego federal funding and instead the Commonwealth of Virginia will provide up to $65 million to Arlington and Fairfax County ($52 and $13 million respectively) for the Pike streetcar. The latest estimated cost of the Pike streetcar is $333 million.
Arlington County Manager Barbara Donnellan expects the remainder of the Pike streetcar's cost will be funded through a combination of new regional transportation funding and local dedicated real estate tax revenue.
Arlington transportation officials expect that foregoing federal funding will shave at least a year off the Pike streetcar's construction time.