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Moderator: CRail
But in recent weeks, a more concrete proposal by Florida-based XpressWest for Las Vegas train service has quietly advanced. The privately-held firm has taken key steps to secure private debt funding under bond programs operated by California, Nevada and the federal government.
If the chips fall the right way, the $4.8-billion project should have full funding for a 170-mile line along Interstate 15 and start construction later this year with trains running by 2023, the company told The Times.
Amid the broad economic slowdown triggered by the coronavirus, California has approved a $600 million private activity bond allocation for construction of the $5 billion Virgin Trains-Brightline railway that within four years could be whisking passengers from Las Vegas to a (distant) Los Angeles suburb at speeds of up to 200 miles an hour.Um, 200mph? I don't remember that....
Approved unanimously in Sacramento on Tuesday by a committee overseen by California Treasurer Fiona Ma, Virgin Trains-Brightline can sell up to four times the allocation amount, raising as much as $2.4 billion for the project. The company, which operates the Brightline rail service in South Florida, is also awaiting word on a $200 million private activity bond allocation from Nevada that would raise an additional $800 million. The U.S. Department of Transportation last month provisionally awarded the project $1 billion of private activity bonds, raising potential funding for the 180-mile-long project to $4.2 billion. That’s just $800 million shy of the railway’s $5 billion construction tab.
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CarterB wrote:Any problems on that route with grade crossings?The route doesn’t exist yet, so no. They’ll build it separated.
APPLE VALLEY — The recent approval of a tax credit meant to help businesses grow in California will bring local construction of a vehicle maintenance facility for Virgin Trains USA’s high-speed rail line, according to officials involved in the project.
Ben Porritt, senior vice president of corporate affairs for Brightline, said approval of the California Competes Tax Credit will allow XpressWest’s Vehicle Maintenance Facility to be built near the train station that will run from Apple Valley to Las Vegas.
“The VMF is where the company’s high-speed rail trainsets will be maintained, serviced and/or repaired on a daily basis,” Porritt said in a statement. “The VMF will be approximately 200,000 square feet with a working area situated on 60 acres.”
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The project is on track to break ground at the end of 2020, Porritt said.
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XpressWest is a $5 billion privately funded high-speed rail project estimated to create nearly $3 billion in economic activity for California and generate tax revenue for the state and Apple Valley, according to the statement.
The Virgin Trains station, meanwhile, will be constructed on part of 284 acres near the southeast corner of Dale Evans Parkway and Interstate 15, according to previous Daily Press reports.
The project will include 32 trains daily that will speed along the 180 miles to Las Vegas in about 90 minutes. Each train set is expected to accommodate up to 600 passengers.
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Plans in Las Vegas are to construct a two-story train station on 14 of 110 acres owned by Virgin that are located off Las Vegas Boulevard, the Review-Journal reported. That station would feature a seven-story tall parking garage, outdoor drinking and dining options, a self-ticketing area, a departure lobby, retail space, baggage claim and office space.
The final step in the process involves Nevada approving $200 million in bonds from the state’s debt limit allocation, which would allow Virgin to market $800 million in bonds toward the project, according to the Review-Journal.
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As plans for a high-speed train between Las Vegas and Southern California push ahead, officials are looking at how to incorporate Allegiant Stadium into the Southern Nevada portion.
During an online symposium Thursday, Virgin Trains spokesman Ben Porritt said the company is working to create Raiders game specific rides much like it does in Florida for the NBA, with trains leaving 30 minutes after the final buzzer.
“We created a train for the Miami Heat called the Buzzer Beater and we rearranged train schedules on game day,” Porritt said. “Those are the type of creative things that we’ll do with the NFL schedule, and certainly if they’re playing a ‘Monday Night Football’ game or an early game on Sunday or a late game on Sunday, we’re going to work that out with the schedule and make sure it works for as many people as needed.”
The $4.8 billion project would establish high-speed rail service between the Victor Valley area and Las Vegas, with trains traveling at speeds up to 200 mph completing the 180-mile trip in approximately 90 minutes. The tracks would run in between the northbound and southbound lanes of I-15 through California, shifting to the east side of the freeway in Nevada.
Work is being done to bridge the transportation gap between when travelers arrive at the planned Las Vegas station — slated to be constructed on Las Vegas Boulevard between Warm Springs and Blue Diamond roads — and the stadium for game and event days.
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