Weekly Newsletter: All Aboard Florida Approved to Issue $1.75 billion in Bonds
Last Wednesday, after an eight hour meeting, All Aboard Florida (AAF) won approval to issue $1.75 billion in Private Activity Bonds (PAB’s) by the Florida Development Finance Corporation (FDFC). This will fund their $2.5 billion project.
The intercity rail project will run on 235 miles of track from downtown Miami to a station at Orlando International Airport by the middle of 2017. The route will be serviced by 32 round-trip trains a day using Siemens trainsets, rated for 125 mph.
In the first year alone, AAF anticipates 753,700 passengers and $32 million, and by the year 2020 it will have increased to 5.3 million passengers and $343.90 million in fare revenue. Additionally, there are many economic and environmental benefits that this new line will bring to Florida and they expect to take 3 million cars off the road.
This is a positive step forward for US high-speed rail. We are excited to see another project that will demonstrate the benefits of faster, more frequent, and dependable service. If you'd like to learn more details about the project visit their website at AllAboardFlorida.com.
Articles We Enjoyed:
Next Stop Paris: Secrets of France's Greatest Stations
"Whatever it is about train stations -- the air of anticipation, the sheer romance of travel -- Paris's grand rail terminals have it.. Each station tells a story of the world's ongoing love affair with train travel."
Track Constrution Begins on New Haven-Springfield Line
"Construction of a second track for the expanded rail line from New Haven to Springfield, Massachusetts, began Monday... The increased number of trains is intended not only to boost economic development in central Connecticut. It's also part of a broader web of rail line expansions between Springfield and Boston and north to Vermont and Montreal."
At a Crossroads: Miami-Orlando Train Service could get $1.75 billion boost
"All Aboard Florida, a planned inter-city passenger train system that would connect downtown Miami to Orlando, could receive a crucial approval Wednesday to issue $1.75 billion in tax-exempt bonds in order to finance a 235-mile rail service."
Private Company Seeks Exclusive Rights for High-Speed Rail
"The Minnesota Department of Transportation is considering granting a private company exclusive rights to lease air space on highways for an elevated high-speed rail line from Rochester to the Twin Cities."
Track fixes to allow 110-mph Amtrak travel through B.C.
"Amtrak trains that travel through Battle Creek will hit speeds of 110 mph within three years, Michigan Department of Transportation Office of Rail Director Tim Hoeffner said."
NARP Fall 2015 Council Membership Meeting in Indianapolis, IN October 17-18. Optional Tour of Amtrak's Beach Grove facility October 16. The meeting is open to all NARP members and other interested rail advocates.
P3 Infrastructure Summit 2015 In New York City - October 14-15,
Midwest High Speed Rail Association
4765 N. Lincoln Ave.
Chicago, IL 60625
Join today at MidwestHSR.org/Join-Us