News & Events for Chesapeake Bay

All Aboard Florida bond sales delayed

Date Posted: 2015-12-14
Source: TCPalm

all-aboard-florida.jpgThe new passenger rail service, All Aboard Florida, has raised concern from boaters due to its plan to add a 32 train crossings each day on three, low railroad bridges over navigable waterways in Fort Lauderdale, Stuart, and Jupiter.

Construction has already started between Miami and West Palm Beach, and this report notes that the start of passenger service in that section is planned for early 2017 (had recently been stated as late 2016, and before that, 2015), with full service in late 2017. There is no indication as to whether or how these delayed bond sales will affect the timeline or the project as a whole. From a TCPalm article:

Apparently uncertain whether it can sell $1.75 billion of tax-exempt bonds this year, All Aboard Florida has asked the federal government to extend a Jan. 1 bond-sales deadline.

It's the second time the Miami-to-Orlando passenger railroad has requested an extension from the U.S. Department of Transportation, which allocates private activity bonds. The department granted a first extension in June, pushing back an original July 1 deadline to Jan. 1.

It has yet to approve or deny this second extension...

Continue reading TCPalm article: All Aboard Florida seeks more time to sell its $1.75 billion of tax-exempt bonds.

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