City must find use for $4.5M in Rio Nuevo money or lose it

By Becky Pallack

Arizona Daily Star

Artist’s rendering of the Tucson modern streetcar on Fourth Avenue.

Tucson stands to lose up to $4.5 million in federal money for now-defunct Rio Nuevo projects if it doesn’t find a new use for the cash pronto.

Tucson has until the end of the week to offer an acceptable alternative plan to use the money, which has been sitting untouched for years, and until the end of the year to contractually obligate the expenditure.

City officials want to put most of the money into building the streetcar line downtown, which would let them take an equal amount of local money out of the construction and shift it to future train operating costs.

Continued:

 

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