Interesting: A Letter to FL Congressmen Bill Posey from the US Department of Transportation Regarding the All Aboard Florida Project.

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NOVEMBER 1, 2016 – TO THE HONORABLE BILL POSEY, US HOUSE OF REPRESENTATIVES, WASHINGTON, DC 20515.

“Dear Congressman Posey:

Thank you for your letters expressing concern with the Lewis Berger Group, Inc. and its role in the All Aboard Florida (AAF) project.

Your letter references a ridership and revenue study conducted for the AAF project.  The US Department of Transportation does not evaluate ridership, revenue or credit worthiness in determining the eligibility of projects for Private Activity Bond (PAB) allocations and therefor did not consider the study in connection with its PAB allocations for the AAF project.”

Signed Blair Anderson

Undersecretary for Policy at the Department of Transportation.

blair-anderson

Blair Anderson

What’s interesting is that the “US Department of Transportation does not evaluate ridership, revenue or credit worthiness in determining the eligibility of projects for Private Activity Bond (PAB) allocations.”

2 thoughts on “Interesting: A Letter to FL Congressmen Bill Posey from the US Department of Transportation Regarding the All Aboard Florida Project.

  1. How is it “bizarre” as the bonds are bought by private entities that will take on all the risk if the project fails?

    What is bizarre is that you are so concerned about potential losses incurred by investors. Have you been approached by AAF to buy into this? If so, you must release that information. Otherwise I think you are just another fool who has no good reason to oppose this much needed project.

    Liked by 1 person

  2. Mr. Thorne is correct on all points.

    It might be ignorance on the part of the author who seems to labor under the mistaken notion that PABs are public money. They are not.

    As Thorne indicated, it is up to the bond buyer to do due diligence in their determination of risk.

    A bigger question, why on earth did Posey make the inquiry in the first place? He is made to look foolish by Anderson’s obvious reply. My faith in BIll Posey’s objectivity in this matter has been shaken.

    And by the way, the Lewis Berger Group is a very large diverse company. The group who performed the cited study had nothing to do with those who were found guilty of offenses relating to an overseas construction operation. Evidently, smearing and guilt by association are tactics used time and again by those opposed to progress (i.e., those who are anti-AAF).

    Instead of seeing all the good that AAF will bring, they focus on manufactured fears. Shameful.

    Like

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