CONGRESSMEN CALL ON FEDS TO SUSPEND BRIGHTLINE BONDS

Publish Date: 
Wednesday, May 23, 2018 - 8:00am

FIVE CONGRESSMEN CALLED ON FEDERAL TRANSPORTATION OFFICIALS TO SUSPEND THE $1.15 BILLION IN PRIVATE ACTIVITY BONDS FOR ALL ABOARD FLORIDA'S BRIGHTLINE PASSENGER RAIL, saying there are still a number of "yet-to-be answered questions" concerning Brightline's use of the bonds. These five include four Florida lawmakers and Rep. Mark Meadows, the chairman of the U.S. House of Representative's Subcommittee on Government Operations.

The issue at large is whether Brightline can be labeled as a "surface transportation project" which includes high-speed trains that move up to 150 mph. Brightline's trains will operate at a maximum speed of 125 mph.

In a separate letter Monday, nine other lawmakers expressed support for Brightline's use of the bonds, calling Brightline a "project of national and regional significance."

Brightline executives have stated the bonds provide a lower-cost alternative than other financing options. As more and more questions arise regarding the bond allocation, Brightline officials have also stated they are pursuing a $1.75 billion federal Railroad Rehabilitation & Improvement Financing Loan.

Read more here.

Photo taken by Greg Lovett of The Palm Beach Post.

Original Article was written by Jennifer Sorentrue of My Palm Beach Post.