After Saint Lucie County has jumped into the fray Treasure Coast officials have ponied up $4.6 million dollars of tax payers money to try to stop a railroad from using railway tracks.
And it appears likelier than ever that all that money has been wasted whining when they could have put that $4.6 million dollars to improving road safety at crossings (or improving any road for that matter).
Indian River County’s effort to derail All Aboard Florida by blocking its financing won’t stop the project, according to court documents. It only will make it more expensive.
The hopes of Treasure Coast officials rely on them selling the plight of their own area against the benefits that will come to larger areas of the state.
Here I have opposed AAF from getting tax dollars. The only bright spot out of the AAF opposition has been the pressure they put on AAF which has led them to look at other options than a special interest subsidy from the Federal Rail Administration.
The main option has been permission to sell tax-exempt bonds. That’s right people will have access to invest their money without the government putting their thieving hands in the pot. The only thing wrong about it is that more don’t have access to sell tax-exempt loans (that privilege extends mostly to municpalities).
AAF says they are ready to roll on tax-exempt loans or not.
If denied private-activity bonds, All Aboard Florida likely would seek traditional bonds at an increased cost of $277 million to $394 million, according to the defendants’ filing.
AAF has claimed to spend hundreds of millions already between West Palm and Miami while other local governments are also heavily invested.
Government agencies also are deeply invested — they’ve contributed to station infrastructure and track-crossing safety upgrades — and also would see increased costs if the private-activity bonds are denied.
Ironically the opponents of AAF are upset their local “majority” is not being listened to but does see the greater “majority” of the millions more people in the greater Orlando area and South Florida that may benefit from the project.
Not only has the socialist planning of roads and zoning failed but now people may be learning the democracy is also a failed idea.