Construction of Norfolk's starter light-rail line is running as much
as 41 percent over its original budget, and that has angry local
leaders demanding an explanation from Hampton Roads Transit, which
manages the project. HRT officials said this week they need $38 million to $40 million
more to finish the 7.4-mile transit system, which is just over 50
percent complete.
"We at HRT understand that our business practices need to be revised," said HRT President Michael Townes and stated that HRT has recently hired a transit construction expert and a financial consultant. Townes noted that the original design of the light-rail project was "bare bones" to meet stringent criteria for federal money. He said the newest budget is close to the price tag HRT estimated several years ago before slashing more than $100 million in a "value engineering" exercise to reduce costs.
For more, see hamptonroads.com.
