ORLANDO, Fla. (AP) _ The president of a private company seeking to build a passenger rail from Miami to Orlando says the project will attract 5.4 million riders by 2020 and reduce congestion on Florida’s roadways.
All Aboard Florida President Michael Reininger on Wednesday told the Florida Development Finance Corporation that the project will create $6.4 billion in economic activity over eight years.
The state corporation is deciding whether to allow the company to issue $1.75 million in tax-exempt bonds.
Opponents asked corporation board members to postpone a vote. Opponents accused board members of meeting with company officials privately and already making up their minds.
Former American Airlines CEO Robert Crandall told board members that All Aboard Florida doesn’t need the bonds. He says taxpayers will suffer if they’re issued.