Brightline gets extension to sell bonds for Orlando expansion
Brightline received a seven-month extension Thursday to sell $1.15 billion in tax-exempt bonds for the expansion of the controversial passenger train line to Orlando.
The U.S. Department of Transportation granted the extension, noting that the extra time gives All Aboard Florida —- the parent company of the fledgling private rail service now running between West Palm Beach and Miami —- until the end of the year to sell what are known as “private activity” bonds.
Part of the reason for the “provisional” extension is that All Aboard Florida continues to work on alternative financing for the project, Derek Kan, undersecretary of transportation for policy, wrote in a letter to All Aboard Florida Holdings Vice President Bruce Snyder.
Full story:
https://www.orlandoweekly.com/Blogs...extension-to-sell-bonds-for-orlando-expansion
Brightline received a seven-month extension Thursday to sell $1.15 billion in tax-exempt bonds for the expansion of the controversial passenger train line to Orlando.
The U.S. Department of Transportation granted the extension, noting that the extra time gives All Aboard Florida —- the parent company of the fledgling private rail service now running between West Palm Beach and Miami —- until the end of the year to sell what are known as “private activity” bonds.
Part of the reason for the “provisional” extension is that All Aboard Florida continues to work on alternative financing for the project, Derek Kan, undersecretary of transportation for policy, wrote in a letter to All Aboard Florida Holdings Vice President Bruce Snyder.
Full story:
https://www.orlandoweekly.com/Blogs...extension-to-sell-bonds-for-orlando-expansion
