All Aboard Florida to seek private financing.
With a proposed 32 trains per day from Miami to Orlando, All Aboard Florida has applied for a $1.6 billion loan with the Federal Railroad Administration. It “has decided to pursue” the alternative route of a private activity bond allocation to pay for West Palm Beach to Orlando leg of the track.
Click here... to read the rest of the Post article.
1 comment:
How can this be legal?
"The $405 million in privately offered notes, which carry a 12 percent interest payout, were expected to be paid off by the $1.6 billion publicly subsidized federal loan once it was awarded."
Post a Comment