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June 2017

CARE FL JUNE 2017 UPDATE - AAF SEEKS MULTI-BILLION DOLLAR DOT-SUBSIDIZED LOAN, PUTTING TAXPAYERS AT RISK

Documents confirm AAF is seeking a new Railroad Rehabilitation and Improvement Financing (RRIF) loan from the U.S. Department of Transportation (DOT). AAF and DOT have done their best to prevent the public from knowing this, and it is the latest example in AAF’s insatiable quest for public subsidies.

FLORIDA TRAIN DEVELOPER MAY SWITCH TRACKS ON FEDERAL FINANCING

All Aboard Florida and its parent company, Florida East Coast Industries, inquired in recent months about obtaining a low-interest loan to finance Brightline's train service from the U.S. Department of Transportation's Federal Railroad Administration, according to correspondence obtained by The Bond Buyer.

REP. BRIAN MAST QUESTIONS FORMER BRIGHTLINE HEAD ABOUT FINANCING & SAFETY

During a federal subcommittee hearing Thursday, U.S. Representative Brian Mast questioned former All Aboard Florida head Michael Reininger about the "challenges and opportunities" facing intercity passenger rail projects such as Brightline.

Matt asked if the project is or will be publicly funded, in which Reininger stated that it is "an investment of private sector capital."

Matt also raised concerns about aging railroad bridges, asking whether those spans will be replaced as part of the rail project.

Read more here.

STATEMENT BY BRENT HANLON, CHAIRMAN OF CARE FL AFTER U.S. HOUSE OF REPRESENTATIVES SUBCOMMITTEE HEARING

"AAF has claimed that it is a private enterprise. But the evidence does not support this claim." - Brent Hanlon

Tune into a statement by Brent Hanlon, Chairman of Citizens Against Rail Expansion (CARE FL) after the hearing with the U.S. House of Representatives Subcommittee on Railroads, Pipelines, and Hazardous Materials Hearing.

During this hearing, All Aboard Florida's Brightline was challenged that their company's claims of being 100% privately funded were false and that some of the federally-backed loans and private equity bonds being pursued included federal money.

BRIAN MAST AND BRIGHTLINE EXEC CLASH OVER MONEY FOR RAILROAD

Treasure Coast's U.S. Representative Brian Mast and key railroad executive, Mike Reininger, behind AAF's Brightline high-speed passenger rail clashed in Congress yesterday with Mast contending the company is getting public tax dollar subsidies despite claims to the contrary.

RICH CAMPBELL TC PALM REPORT: A TRENCH UNDER RAILROAD TRACKS? YOU PAID TO STUDY THIS

The Martin Metropolitan Planning Organization paid consultant Jeffrey Weidner, vice president of Martin Engineering, $80,000 to study if the county should build a crossing on St. Lucie Avenue and a stairwell-and-ramp walkway near Railroad Avenue. However, these two-grade separation crossings would come with a hefty price tag.

The overpass on Indian Street would cost $83.6 million. The underpass on Monterey Road would cost $68.5 million.

$160 MILLION RAILROAD CROSSING UPGRADES FOR MARTIN COUNTY

A proposal for digging a trench under the railroad tracks at Monterey Road and building an overpass over the tracks at Indian Street in Martin County would make those crossings safer for traffic but would come with hefty price tags.

This is only part of a $160 million package of railroad crossing upgrades sought by county officials.

"I think this grade separation on Indian Street is already too costly," committee member Joe Capra said. "The one on Monterey is going to be a nightmare for this community."