04-02-2008, 02:38 PM
Wow, your city loves to spend money.
Fort Lauderdale commits $37.5 million for downtown streetcars
By Brittany Wallman | South Florida Sun-Sentinel
April 2, 2008
FORT LAUDERDALE - In a pivotal decision for a proposed streetcar system downtown, the city on Tuesday agreed to come up with 25 percent of the cost of the proposed $150 million light rail loop to be built on the streets of the urban core.
Part of the $37.5 million local contribution would be borne by the city from yet-to-be-determined funds, and could include a contribution of land. Part would come from property owners downtown, who would pay a special assessment every year for 30 years.
Both expenditures will require public hearings, but the vote Tuesday was crucial to move the streetcar proposal forward.
Even in tight budget times for local governments, city officials agreed to come up with the money that downtown businessmen said would ignite investment along its route and inspire light rail expansions countywide.
Fort Lauderdale commits $37.5 million for downtown streetcars
By Brittany Wallman | South Florida Sun-Sentinel
April 2, 2008
FORT LAUDERDALE - In a pivotal decision for a proposed streetcar system downtown, the city on Tuesday agreed to come up with 25 percent of the cost of the proposed $150 million light rail loop to be built on the streets of the urban core.
Part of the $37.5 million local contribution would be borne by the city from yet-to-be-determined funds, and could include a contribution of land. Part would come from property owners downtown, who would pay a special assessment every year for 30 years.
Both expenditures will require public hearings, but the vote Tuesday was crucial to move the streetcar proposal forward.
Even in tight budget times for local governments, city officials agreed to come up with the money that downtown businessmen said would ignite investment along its route and inspire light rail expansions countywide.