Warren Buffett eviscerates a $300 million streetcar project in his hometown as a 'mistake ... cast in cement.' Here's why he thinks buses are a better bet.
But Buffett, who said in his letter that he doesn't typically take public sides on his hometown's issues, warned that the streetcar project is"going to be hugely expensive if implemented."
Mutual of Omaha has said it would soon start construction on a 44-story, $600 million office tower, pictured in a rendering, along the planned streetcar route.An analysis by MuniCap, a public finance company, of the streetcar project's financial plan found that possible development stimulated would more than pay off the project, The World-Herald reported.
The World-Herald reported that the types of bonds approved for the streetcar project do not require a public vote.
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