Private Activity Bonds

BRIGHTLINE FAILS TO SELL PRIVATE ACTIVITY BOND DEAL FOR LAS VEGAS RAIL

FORTRESS INVESTMENT GROUP FAILS TO SELL PRIVATE ACTIVITY LOANS FOR A HIGH-SPEED PASSENGER BRIGHTLINE TRAIN FROM CALIFORNIA TO LAS VEGAS. Since the end of September, they had been marketing $3.2 billion before reducing the number to $2.4 billion. The project has now been postponed.

US SUPREME COURT WON'T HEAR CASE AGAINST BRIGHTLINE

THE US SUPREME COURT DENIED INDIAN RIVER COUNTY'S APPEAL OF ITS LAWSUIT AGAINST BRIGHTLINE AND THE FRA. The ruling was announced Monday, ending a mark to the county's case.

County officials said that they had expected the ruling results. Indian River County Attorney Dylan Reingold said that they "knew it was going to be an uphill battle" and that they "are still pushing hard on all the safety requirements that would be needed."

Read more here.

BRIGHTLINE, DOT ARGUE AGAINST SUPREME COURT REVIEW OF BOND FINANCING

USDOT AND BRIGHTLINE ARGUE THAT U.S. SUPREME COURT SHOULD DENY INDIAN RIVER COUNTY'S REQUEST FOR A WRIT OF CERTIORARI. The county has asked the court to review a federal appeals court's December 2019 determination that the USDOT determined that the high-speed rail passenger rail project qualified for $2.7 billion in PAB financing.

County Attorney Dylan Reingold said a reply to the USDOT and AAF Holding's briefs will be filed the week of September 7. Justices are expected to convene during their September 29 conference to consider the writ request.

BATTLE OVER FLORIDA'S PRIVATE TRAIN REACHES U.S. SUPREME COURT

INDIAN RIVER COUNTY'S CASE AGAINST THE FDOT, FRA AND ALL ABOARD FLORIDA IS PASSED TO U.S. SUPREME COURT. The case revolves around the legitimacy of $2.1 billion in private activity bonds that were allocated to AAF's high-speed passenger rail service, Brightline.

Read more here.

BRIGHTLINE WANTS $350M TO BUILD FIVE RAIL STATIONS IN FLORIDA

BRIGHTLINE BEGAN TALKS WITH MIAMI-DADE COUNTY TO BUILD FIVE TRAINS PLATFORMS BETWEEN MIAMI AND AVENTURA ALONGSIDE THEIR HIGH-SPEED PASSENGER RAIL TO ORLANDO. This proposed arrangement would give Miami-Dade a new rail service—a service described like Tri-Rail—with stops at Wynwood, the Design District, El Portal, North Miami and the Biscayne Bay campus of Florida International University.

Read more here.

ALL ABOARD FLORIDA: BUY ME A RAILROAD

IF YOU CAN'T CONVINCE THE PUBLIC YOU'VE GOT A GOOD IDEA, convince the politicians and let them ram it down the citizens' throats. All it takes is money.

What's $3 Million Among Friends?
According to the TC Palm/Stuart News, as little as $3 million may be all that's necessary. That's how much AAF has spent on lobbyists in Tallahassee since 2011. But, they still need some 17 permits before they can move forward. So, the budget may have to go up.

BRIGHTLINE PASSENGER COUNTS, REVENUE REMAIN WELL BELOW COMPANY'S OWN PROJECTIONS

BRIGHTLINE/VIRGIN TRAINS USA REPORT FINDS THAT 2019 PASSENGER COUNT AND REVENUES WERE FAR BELOW ITS OWN FORECASTS. Passengers count barely broke one million, less than half the count originally projected, and revenue was $22 million, less than a fifth.

COURT REJECTS INDIAN RIVER COUNTY'S CHALLENGE AGAINST BRIGHTLINE/VIRGIN TRAINS USA

THE U.S. COURT OF APPEALS REJECTED INDIAN RIVER COUNTY'S CLAIMS OF IMPROPERLY APPROVED FUNDS FOR BRIGHTLINE/VIRGIN TRAINS USA FRIDAY.

However, this is not the end to the fight.

TRAIN WRECK TIMES - GOOD NEWS AND BAD

 

 

 

TRAIN WRECK TIMES

BY SUSAN MEHIEL

GOOD NEWS AND BAD

We are pleased to report our Guest Column in the TC Palm newspapers ran today. Read the article here.

SUSAN MEHIEL'S TRAIN WRECK TIMES - MOVEMENT ON LNG AND MORE

 


Train Wreck Times

By Susan Mehiel

Movement on LNG and a CALL TO ACTION!