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[QUOTE]Originally posted by George Harris: [QB] [QUOTE][QUOTE]Originally posted by Gilbert B Norman: [qb] Fair Use: [i][list] [*]. . . All Aboard Florida decided to pursue a $1.6 billion loan from the Department of Transportation. Apparently, because the loan requires a strict Environmental Impact Statement to be completed, All Aboard Florida decided to also apply for $1.75 billion in tax exempt private activity bonds from the Department of Transportation.[/i] [/list] Now I realize there is a lot of optimism regarding this initiative around here, and who knows, it just might turn a wheel (and maybe I'll still be of sound body to take a joyride, which I'll do). But it will be highly questionable that the project is, as first advertised, funded solely by the private sector. Now what will be interesting will be an authoritative answer to the question; will it be subsidized to any extent than is other private sector commercial transportation? [/qb][/QUOTE]Since what we are talking about here are loans and a relief from taxes on their bonds, I would not be calling that a subsidy. If we see them hand out asking for grants, now that is a different story. However, I am still inclined to believe that they are taking a page out of Flagler's concept of over a century ago. They are not as concerned whether or not the railroad makes money as they are that it encourages development of other activities that will make money for them. As to these counties trying to get the railroad doglegged around them off an established railroad alignment: The taxpayer suit should be by those who think the county is wasting their money opposing the project. It reminds me much of some of the anti-HSR whiners in California that were literally trying to get the railroad rerouted around their cow barn. [/QB][/QUOTE]
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