All Aboard Florida Hires Rail Contractor, Will Proceed Regardless Of Lawsuit

[thelakelander]

All Aboard Florida has selected a contractor to upgrade the 66-mile rail corridor between Miami and West Palm Beach, which is planned to eventually connect to Orlando.

In court documents released yesterday, the company said that it will move forward with the project regardless of the outcome of a legal challenge by residents and government officials on the Treasure Coast. Should the lawsuit succeed in blocking AAF from using tax-free bonds, the company will issue taxable bonds instead.

Construction is also underway on a terminal in Miami, and stations in Fort Lauderdale and West Palm Beach.

Full article: http://www.thenextmiami.com/index.php/all-aboard-florida-hires-rail-contractor-will-proceed-regardless-of-lawsuit-outcome/

[spuwho]

The Miami-WPB segment was never in any real danger of blockage. AAF always said they would run just this segment until the Cocoa/MCO segment is completed.

The tear down and street closures on Evernia/Datura/Clematis district has already begun in WPB. Some real estate people are sniffing around and one got permission to connect their build out with the new station. But right now its all AAF station construction at the moment.  Ft. Lauderdale has finished tearing down for the new station and the new utilities are going in.

The "Not All Aboard" people are having a hey day with the recent Amtrak wreck. Except AAF will be using the new GE PTC system which would not allow a trainset to travel 107mph in a 50mph zone. AAF plans on using some state of the art train controls as part of the build out with Siemens. Woefully underfunded Amtrak is a poor compare to a new build out of a passenger line. But they will have their say.

AAF's "we will build regardless" position is interesting. Like a chess match, they announce their next move before the detractors can complete the current one.

[spuwho]

Per the Palm Beach Post:

http://realtime.blog.palmbeachpost.com/2015/05/14/all-aboard-florida-bond-hearing-canceled-no-reason-given/

All Aboard Florida bond meeting canceled because of court hearing

A meeting scheduled for May 28 to discuss whether All Aboard Florida's express passenger rail system will get $1.75 billion in tax exempt bonds has been canceled. No new date has been given.

The Florida Development Finance Corp. was scheduled for a day-long meeting in Orlando where the public was invited to speak about the funding All Aboard Florida has requested.

All Aboard Florida said in a statement that "We and others have requested a postponement due to a scheduling conflict with the court hearing."

A federal court date is scheduled for May 29 in Washington, D.C. for a judge to hear Indian River County's case for an injunction against awarding the private activity bonds, and several of the people scheduled to attend the May 28 meeting also had to be at the May 29 meeting.

Indian River and Martin counties have sued the U.S. Department of Transportation to block the bonds from being awarded. All Aboard Florida intervened in the suits. The company said this week it will continue with its Miami to Orlando project even if it doesn't get the bonds.

Private activity bonds are marketed to private investors with no risk to taxpayers, however buyers do not pay taxes on the interest earned.