Not much has been heard about the Red Line in recent weeks other than repeated attempts to plan a June meeting with Norfolk Southern to fully understand their complaints. Per an email from Mayor Woods that meeting has apparently taken place and will be the topic of discussion at next week's Red Line Task Force session on 6/27.
At the end of June, the clock will really start ticking on the financing plan behind this project. On June 30, 2013, the state legislation expires which allows Special Assessment District revenue to back bonds sold to fund a project. If that occurs the project would be dead in the water regardless of what Norfolk Southern has to say.
The new Legislature will have to vote on granting this extension, and doing so will in effect be voting to back hundreds of millions in Red Line debt since there's no reason to extend the legislation other than this debt. To be sure, that could be interesting in this political environment.
Stay tuned.
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