WASHINGTON - District of Columbia officials are seeing private investors to build and operate a planned streetcar system and to take over the Circulator bus operation.
The D.C. Department of Transportation says the streetcar system will cost about $1.2 billion to build and equip with 50 streetcars. It would cost about $65 million annually to operate. The agency says operating the Circulator buses would cost about $70 million annually.
The Washington Post ( http://wapo.st/LDscoi) reports the agency issued a document Tuesday to test interest from potential investors.
The move comes as Mayor Vincent Gray met with officials from the Export-Import Bank of China to discuss whether they would be interested.
Without private investment, Gray says it could take decades to build the streetcar system because the city is nearing its debt limit.
Information from: The Washington Post, http://www.washingtonpost.com
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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