Opponents: AAF Likely to Default on Loans

CARE FL and Treasure Coast Counties wrote a letter to the Department of Transportation advising that All Aboard Florida would default on a loan if granted one by the federal government.  From the TC Palm article by Lisa Broadt:

It’s likely “speculative start-up venture” All Aboard Florida would default on a federal loan, Treasure Coast rail opponents said Monday in a letter to the U.S. Department of Transportation.

DOT should carefully consider All Aboard Florida’s risky finances before providing a loan, according to the letter written on behalf of Indian River County, Martin County and the citizen group CARE FL.

All Aboard Florida has long sought a $1.6 billion loan from the federal government to finance its Miami-to-Orlando passenger railroad.

But on Monday, Treasure Coast rail opponents suggested All Aboard Florida has scrapped that plan and instead upped its request to $1.75 billion.

To continue reading: http://www.tcpalm.com/story/news/local/shaping-our-future/all-aboard-florida/2017/07/26/all-aboard-florida-has-requested-1-75-b-federal-loan-would-likely-default-opponents-say/512576001/

Share This Article