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Raleigh City Council by a six-to-one voted Sept. 4 and approved an additional $3 million to cover a gap in funding for the Union Station project; Raleigh's multi-modal transit center.
The project includes the adaptive reuse of the Dillon Viaduct Building and the construction of railroad track improvements and station platforms and concourses. The total cost of the project, developed in partnership with the North Carolina Department of Transportation (NCDOT) and Triangle Transit (TTA), was projected to be approximately $60 million.
On June 22, the City of Raleigh received notice that it had been awarded a $21 million Transportation Investment Generating Economic Recovery (TIGER) grant from the United States Department of Transportation to help fund the first phase of the Raleigh Union Station project.
NCDOT pledged matching funds of $9 million and Triangle Transit pledged an in-kind match of the building and land, conservatively estimated at approximately $1.5 million. The City also pledged a $3 million match for construction of the station, from proceeds from the transportation bond passed by City voters in October 2011.
NCDOT notified the City that the combination of funding from various sources had left a $3 million funding gap. The state agency requested that the City contribute the additional $3 million needed to fully fund Phase One of the project.
The Raleigh Union Station is located on the proposed high-speed rail corridor planned for the southeast. The proposed line runs from Washington, D.C. to Raleigh, then to Charlotte, and on Birmingham, Al. The station is scheduled to provide uninterrupted freight and passenger service within three years of the start of construction.
Source: http://www.raleighnc.gov/home/news/content/CorNews/Articles/UnionStationConstructProj.html
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