The shell game continues when it comes to financing for All Aboard Florida’s proposed high-speed passenger rail system.
The U.S. Department of Transportation, at All Aboard Florida’s request, has rescinded its approval for $1.75 billion of tax-free bonds for the passenger railroad and instead approved $600 million for the Miami-to-West Palm Beach segment, the first phase of the project.
According to the railway opposition group, “Care FL”, “We still believe AAF can’t fund Phase 2 of the project (the portion that runs through North Palm Beach and the Treasure Coast) without another bond allocation. But ditching their oroginal $1.75 billion dollar financing plan makes their pathway to funding Phase 2 unclear.”
Read more here: By http://www.tcpalm.com/staff/10052686/lisa-broadt/
Published 6:35 p.m. EST November 29, 2016
http://www.tcpalm.com/story/news/local/shaping-our-future/all-aboard-florida/2016/11/29/all-aboard-florida-withdraws-funding-plan-gets-federal-ok-for-another/94626052/