Letter to USDOT: Federal Loan for All Aboard Florida Is Too Risky

Posted on July 26, 2017

By: Sunshine State News

Indian River and Martin Counties have NOT ended their fight to right the wrongs they say are chugging through government channels -- wrongs that would bring a high-speed rail project through the Treasure Coast at great cost to taxpayers.

Together with Citizens Against Rail Expansion in Florida (CARE FL), the counties have sent a letter to the U.S. Department of Transportation (USDOT) and the USDOT Credit Council about All Aboard Florida’s (AAF) highspeed passenger rail service.

The six-page letter asks USDOT Secretary Elaine Chao to "exercise extreme caution" before considering or approving AAF’s request for a Railroad Rehabilitation and Improvement Financing (RRIF) loan to build out Phase II of the project connecting West Palm Beach to Orlando.  The letter warns the loan is unlikely to be payable and creates a very high risk of default for taxpayers...

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