The Palm Beach Post: All Aboard Florida hearing on $1.75 billion in tax exempt bonds to be held in Tallahassee

Posted on April 8, 2015

A public hearing on All Aboard Florida’s request for $1.75 billion in tax exempt bonds has been scheduled for April 20 in Tallahassee.

The meeting is required by the Tax Equity and Fiscal Responsibility Act when private activity bonds are being considered.

Sean Helton, spokesman for Enterprise Florida, confirmed the April 20 meeting, which will be held at 9 a.m. at the Residence Inn, 600 West Gaines Street.

All Aboard Florida, which plans to run 32 express passenger trains per day on the Florida East Coast Railway tracks, is hoping to use the bonds to replace or supplement a Federal Railroad Administration loan that has yet to be approved.

The board of the Florida Development Finance Corp. is tasked with approving the bonds. It met Tuesday for the first time in months after its members either resigned or had expired appointments. Gov. Rick Scott recently appointed three new members, enough for a quorum.

Although All Aboard Florida was not on the agenda posted on the corporation’s website, Helton said the project was discussed at length during public comments.

The Palm Beach Post has requested minutes of the meeting and all back up materials provided to board members.

It is unclear if the April 20 meeting will include a vote on the $1.75 billion in bonds, or just public comment.

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