Riverfront Streetcar Project Exceeds Budget: Exploring New Funding Options
Riverfront Streetcar Extension Faces Budget Challenges
- Initial construction costs for the streetcar extension to the Berkley Riverfront exceed the $34.9 million budget.
- Kansas City agencies are exploring millions of dollars in potential additional funding sources.
- Project team must find new funding to keep the project on track.
Exploring New Funding Sources
Initial Construction Costs Surpass Budget
The Riverfront streetcar extension project in Kansas City has encountered a significant challenge, as initial construction figures received earlier this year came in above the project’s $34.9 million budget. This has left the project team scrambling to find new funding sources to keep the project on track.
Kansas City Agencies Seek Additional Funding
As a result of the budget overrun, Kansas City agencies are now exploring millions of dollars in potential additional funding sources for the streetcar’s extension to the Berkley Riverfront. This includes seeking support from both public and private sectors to ensure the project’s completion.
While the Riverfront streetcar extension project faces budget challenges, it is crucial for Kansas City to continue investing in its public transportation infrastructure. The extension will not only improve connectivity within the city but also contribute to the overall growth and development of the Berkley Riverfront area. It is essential for the project team and Kansas City agencies to collaborate and explore all possible funding sources to ensure the project’s success.
As Jessica Fulk, a local realtor, puts it, “The Riverfront streetcar extension is an important project for Kansas City’s growth and development. It will not only improve transportation options for residents but also attract more businesses and real estate investments in the area. It’s essential for the project team to find new funding sources and keep the project on track.”
What are your thoughts on the Riverfront streetcar extension project? Do you think it’s worth the investment? Share your opinions and join the conversation!
Orginal article: Link To Article – provided by Kansas City Realtors