CARE FL Statement from Brent Hanlon re: Judge Cooper's Opinion

For Immediate Release

Wednesday, August 17,2016

Contact: Alia Faraj-Johnson

850-222-4100

Statement by CARE FL Steering Committee Chairman Brent Hanlon

RE: Federal Court Ruling against USDOT and All Aboard Florida

"U.S. District Court Judge Cooper's ruling last night confirms what CARE FL has been saying all along-the All Aboard Florida (AAF) project will not be completed without significant public funding. Since its inception, AAF has been portrayed as a private sector venture, however, we have known that is just not true.

"In his ruling , Judge Cooper found and stated the following, 'Not only does this fact call into question the plausibility ofAAF's assertion that it could substitute PAB financing (in part) with private equity, but it also raises another question: How can AAF be so sure that equity investors are waiting in the wings ...7' Additionally, Judge Cooper added, 'The Court thus finds that removing PABs from the equation would significantly increase the likelihood that AAF would be unable or unwilling to proceed with Phase II, thereby averting Plaintiffs' claimed injury.'

"CARE FL has always understood that AAF depends upon federal taxpayer dollars and, further, would require all residents of the Treasure Coast and North Palm Beach communities to bear additional financial burdens and safety risks.

"We especially applaud the Martin County and Indian River County Board of County Commissioners and legal teams for their leadership and steadfast commitment in the fight against AAF.

"Their top priority, from day one, has been to continue protecting their citizens from this boondoggle.

"We also thank all of CARE FL's members, including Mike Ferdinandi and Tom Hewitt, who are plaintiffs along with the Counties. We also thank our supporters in the Treasure Coast and North Palm Beach County regions for their continued commitment to our efforts to stop the illconceived AAF project. "

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