Recap of what is happening with the world of All Aboard Florida recently.
Per Miami Today:
All Aboard Florida revises station plans
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All Aboard Florida, the passenger railway that might eventually link Miami and Orlando, has revised plans for its downtown Miami station.
While work on the nearly 7-acre station has begun – the parking lots near County Hall and the county courthouse where the development is to rise have been cordoned off – All Aboard Florida still must finish an administrative site plan review with Miami-Dade County and City of Miami officials.
This approval process focuses on details of the downtown station – what kind of materials are to be used for the viaduct through which trains will come into the station, how many on- and off-site parking spots the company will provide and whether there will be a pedestrian overpass connecting the All Aboard Florida development to adjacent projects, among other details.
The Miami-Dade Commission already gave its blessing but its purview extended only to the development's overall look.
Now, a committee comprised of county staffers from various departments as well as of three City of Miami representatives is to work with All Aboard Florida through the administrative site plan review.
According to the site plan and renderings All Aboard has submitted to the county,
the station is to have nearly 300,000 overall gross square feet and 384 parking spaces, some on-site, some off. The station is to rise about 84 feet, and 22.6% of gross square footage is reserved for open space, including courtyards, colonnades and pedestrian paths.
The rendering and site plan the company submitted show only its plans for the station itself – not for the mixed-use, office and residential buildings that are also part of All Aboard Florida's development in downtown Miami.
While the overall development is to rise between Northwest First and Eighth streets between the Metrorail line and Northwest First Avenue to the east, the station structure will only run between Northwest Third and Eighth streets.
According to All Aboard's revised rendering, part of the viaduct is to be precast concrete. Previously, the material marked was textured cast-in-place concrete. Additional materials for the viaduct include stainless steel woven metal fabric and glass.
Like the previous site plan submitted to the county, this plan also indicated a future connection between All Aboard's station and the adjacent Metrorail. That connection, probably a pedestrian overpass, is to cross Northwest Third Street.
Miami-Dade Transit representatives required the connection during public meetings with All Aboard Florida last summer. So far, the transit department has said it objects to All Aboard's proposal and has requested additional information from the company.
All Aboard is a subsidiary of Coral Gables-based Florida East Coast Industries. The company plans travel times of about three hours between Miami and Orlando, with stops in Fort Lauderdale and West Palm Beach.
A committee meeting at which county and city representatives are to make their final decision on All Aboard Florida's proposed details for the station hasn't been scheduled but could come as early as January.
Per PalmBeachPost:
Tequesta mayor confused by All Aboard Florida's absence
Tequesta Mayor Abby Brennan told Palm Beach County commissioners in an email that she's confused why All Aboard Florida won't attend today's economic forum where she's scheduled to be on a panel discussion.
The Economic Forum of Palm Beach County scheduled the All Aboard Florida discussion at the private company's request, but then All Aboard Florida pulled out citing scheduling conflicts and a format change.
Forum President Rebel Cook said All Aboard Florida didn't want to debate Brennan, who has voiced her concerns about the safety issues of adding 32 passenger trains per day to the FEC railroad tracks. Cook said the forum was never meant to be a debate.
"For over a year, I have visibly and vocally presented concerns that the Village of Tequesta has concerning possible threats to providing police protection and fire rescue services to both our own municipality and other communities that we serve," Brennan said in her email. "During that time, I have also had several meetings and conversations with All Aboard Florida President Michael Reininger and other Florida East Coast Industries executives to discuss the issues and to develop ways to mitigate them.
"It is my belief that these conversations are ongoing which is why I am confused by their resistence to appear at the Economic Forum of Palm Beach County luncheon," Brennan said.
The forum begins at noon today. Also on the panel are Jupiter Inlet District Chairman George Gentile and West Palm Beach City Commissioner Keith James.
Per WPTV:
All Aboard Florida to state agency: No local governments would oppose its new financing plan
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More than 38,000 people have signed petitions to stop All Aboard Florida. Protests have reached the governor, members of Congress and the U.S. secretary of transportation.
Yet despite a groundswell against the proposed high-speed train, specifically on the Treasure Coast, All Aboard Florida has told the state it doesn't know why any city, county or other local government would oppose issuance of tax-exempt bonds to fund its project, Scripps Treasure Coast Newspapers has learned.
All Aboard Florida avoids even mentioning the vehement opposition with a plan to cut off the Treasure Coast from any of the bond money, instead spending $1.3 billion of it in the other five counties along its 235-mile corridor.
It's a subtle distinction in All Aboard Florida's application to the Florida Development Finance Corp.
"AAF has received clear and consistent support from each county in which proceeds from the private activity bond will be invested," the company wrote in its application for the bonds.
Where the application asks, "Are you aware of any reason why any local government unit (city, county, special district, etc.) would not want Florida Development Finance Corp. to issue bonds in connection with this transaction," All Aboard Florida marked "No."
The application -- submitted Sept. 24 and signed by Michael Reininger, All Aboard Florida president and chief development officer -- was obtained by Scripps Treasure Coast Newspapers under Florida's public-records law. Reininger certified that "The information contained in this application is ... complete and accurate and presents fairly the condition of the applicant ... "
Asked if the company had answered the question about opposition honestly, All Aboard Florida declined to comment.
Bill Spivey, Florida Development Finance Corp. executive director, said his agency asks about opposition "to make sure if there are any issues, we're aware of it. Typically, bondholders want to know if there are any issues. We want to be fully apprised."
Spivey also stressed his agency has "nothing to do with anything other than financing." Issues such as zoning, development and land use -- and other concerns that ignited a firestorm against the $2.25 billion project -- are beyond the authority of the Florida Development Finance Corp., he said.
All Aboard Florida plans to spend more than $387 million to upgrade its rail right of way through Martin, St. Lucie and Indian River counties, according to an economic impact study commissioned by the railroad. Yet while its application to the state confirms no money from the private activity bonds would be spent on the Treasure Coast, the company won't comment on how it would pay for construction here.
It also refused to explain why it chose to use the bond money only in Miami-Dade, Broward, Palm Beach, Brevard and Orange counties.
"We are a privately owned company and are not disclosing our capital structure," the company said in a statement. "All Aboard Florida is fully financed to begin construction on the south segment (from Miami to West Palm Beach). Proceeds from the private-activity bonds; equity contributions from All Aboard Florida's parent company, Florida East Coast Industries; and rolling stock financing will provide all the funding necessary to develop the project from Miami to Orlando."
All Aboard Florida has asked the U.S. Department of Transportation to authorize the sale of $1.75 billion of tax-exempt private-activity bonds. The railroad would pay a fee to Florida Development Finance Corp. to be the "conduit issuer," and would begin marketing the bonds before the end of the year, according to its application.
All Aboard Florida initially asked the federal government for a $1.6 billion low-interest loan, a part of its plan that has drawn some of the most strenuous criticism. However, if the tax-exempt bonds are approved, the loan "would either be completely replaced or substantially reduced, " Husein Cumber, Florida East Coast Industries executive vice president, said last month.
In addition to buying locomotives, train cars, maintenance equipment and equipment for its stations, All Aboard Florida plans to use money from the private-activity bonds to pay off $405 million it borrowed through a bond offering in July, according to the bond application. All that money remains in escrow, according to the application.
Private Activity Bonds
All Aboard Florida wants to scrap its request for a $1.6 billion federal low-interest loan and instead borrow $1.75 billion by having the state issue tax-exempt public-activity bonds. How would that work?
The U.S. Department of Transportation must approve "allocation" of the $1.75 billion, meaning it authorizes the amount of bonds to be sold.
All Aboard Florida pays Florida Development Finance Corp. an issuance fee as the "conduit issuer."
Florida Development Finance Corp.'s name is on the bonds, but the state of Florida is not financially at risk if All Aboard defaults. The state does not pledge its credit, any cash or anything