Virginia Beach, Va. – A company wants to put up millions to assist the city in bringing light rail to Virginia Beach.
It’s still very, very early in the process, but NewsChannel 3 has learned there’s an unsolicited proposal to Beach city council.
“I wouldn’t be surprised we have another offer or maybe two once we go through the process,” said City Councilman James Wood.
The company wants to expand light rail to Rosemont, three miles east of Town Center.
The plan for Town Center was estimated at 252 million bucks, so extending it further would cost even more.
“If there’s someone who’s willing to put up all private capital, there’s always a catch, what do they want in return,” said City councilman John Moss. “Then I would love to see someone privately finance transportation.”
How much the company is willing to pay is not being said, everything is confidential, which is the nature of unsolicited proposals.
The city is creating a task force to see whether they want to move forward in a public-private partnership.
The Tide began running in August of 2011. Ridership is higher than expected, but the line stops at Newtown Road. This extension would drastically expand its coverage.