State reaches agreement for high speed rail along Beachline
TALLAHASSEE, Fla. (WOFL FOX 35 ORLANDO) -
The Florida Department of Transportation (FDOT) has reached an agreement with those aspiring to build a privately owned, operated and maintained passenger rail service linking Orlando to Miami.
Under the agreement, All Aboard Florida would lease portions of the Beachline Expressway (State Road 528) right-of-way to build a high speed train. The lease agreement is for 50 years, with an option to renew for another 49 years.
All Aboard Florida will pay FDOT $275,000 per year, adjusting annually for inflation – the appraised, fair market value of the lease.
All Aboard Florida will also be responsible for the consequences of any accident that arises from construction and operation of the train.
There are stops planned for West Palm Beach and Fort Lauderdale along the roughly 250 mile route which will connect Orlando International Airport with a new train station in Miami. When complete, the estimated $1.5-billion train will become the nation's first privately financed, operated and maintained passenger rail system.
All Aboard Florida is owned by Florida East Coast Industries, of Coral Gables.