Brightline bond request approved, Orlando expansion on horizon

Trains Industry Newsletter
Get a weekly roundup of the industry news you need.
By signing up you may also receive occasional reader surveys and special offers from Trains magazine. View our privacy policy.
WINTER SPRINGS, Fla. – The Florida Development Finance Corp. has approved Brightline's request to act as a conduit for the issuance of $1.75 billion in Private Activity Bonds. These bonds will finance the rail infrastructure in five counties, including Miami-Dade, Broward, Palm Beach, Brevard and Orange counties.

“We appreciate the FDFC board's continued support in the Private Activity Bond process and the members' recognition of the significant economic impacts Brightline will have on the state,” said Patrick Goddard, Brightline's president and coo. “This is another important step forward for our Phase 2 extension to Orlando, and we look forward to executing this transformative vision of privately funded intercity passenger rail.”

Private Activity Bonds are designed for private infrastructure projects, such as Brightline, that offer a public benefit. They are not backed by the federal, state or local governments and pose no risk to taxpayers. The bonds may only be purchased by qualified, private investors who must perform their own due diligence.

With all material permits in place, Brightline expects to start construction on Phase 2 this year. Brightline's station in Orlando will be located at the Orlando International Airport's new Intermodal Terminal Facility that will be the hub of the future South Terminal complex. The Orlando expansion is slated to open in 2021. Recently, Brightline confirmed it is engaged in an RFP process with the Florida Department of Transportation to extend the system to the Tampa Bay region.

The Florida Development Finance Corp. is a state authorized issuer of industrial revenue bonds. FDFC issues bonds in counties throughout Florida through interlocal agreements. The primary mechanism for accessing the capital markets is tax-exempt and taxable bonds.

–From a Brightline press release

NEWSWIRETrains News Wire

  • Previous Day
  • August 30, 2018
  • Next Day
Leave a Comment
Want to leave a comment?
Only registered members of are allowed to leave comments. Registration is FREE and only takes a couple minutes.

Login or Register now.
Please keep your feedback on-topic and respectful. Trains staffers reserve the right to edit or delete any comments.
Big Boy

Big Boy

All about the world's biggest locomotive


Learn more about the stories and photos in this months issue

Newsletter Sign-Up

By signing up you may also receive occasional reader surveys and special offers from Trains magazine.Please view our privacy policy
Subscribe Up To 54% off the newsstand price!
Subscribe To Trains Mag Today