Over the 30-day period that began Feb. 27 and runs through March 26, the city and county are planning to issue a total of nearly $233 million in debt. With so much funding set to flow into local coffers, Xpress looked at what goes into a local government credit ratings and their influence on money management.
Jessica Morriss, Asheville’s assistant director of transportation, explained that the higher costs were primarily driven by federally mandated door-to-door paratransit service for residents with disabilities. The remaining transit budget gap, she said, was due to higher-than-expected prices for fuel and electricity to power city buses.
“Instead of begging developers to make 20% of their units affordable, we can build the amount we need, and keep them affordable indefinitely.”