Florida NOT All AboardEast Coast, FL, United States
Jul 30, 2015
You asked, "What can I do to help?" Please help now by writing or attending the FDFC All Aboard Florida bond hearing. Florida Development Finance Corporation (“FDFC”) Wednesday, August 5, 2015 1:00 PM - 6:00 PM Double Tree By Hilton 60 South Ivanhoe Blvd., Orlando, FL 32804 Florida Development Finance Corporation (“FDFC”) announces a public meeting to which all persons are invited: Date: Wednesday, August 5, 2015 Time: 1:00 p.m. Location: Double Tree By Hilton 60 South Ivanhoe Blvd., 2nd Floor, Orlando, FL 32804 PLEASE BE ADVISED that at 1:00 p.m., Wednesday, August 5, 2015, the Florida Development Finance Corporation (“FDFC”) will hold a public meeting at the DoubleTree Hotel located at 60 South Ivanhoe Boulevard, 2nd Floor Conference Room, Orlando, FL 32804. During the public meeting, the FDFC Board of Directors will consider the request of AAF Holdings LLC and one or more of its affiliates, subsidiaries or related entities (collectively, the “Applicant”) to adopt a Resolution to authorize the issuance of bonds to (i) finance or refinance the cost of (or reimburse themselves for prior expenditures for) acquisition, construction, renovation and equipping of a privately owned and operated intercity passenger rail system with stations located in Orlando, West Palm Beach, Fort Lauderdale and Miami, Florida, (ii) fund debt service reserves, if any; (iii) fund capitalized interest on the bonds, if any; and (iv) pay costs associated with the issuance of the (collectively, the “Project”). Written comments may be submitted prior to the hearing to the Florida Development Finance Corporation at 800 North Magnolia Avenue, Suite 1100, Orlando, Florida 32803, directed to the Executive Director. FDFC Contact Information Bill Spivey 407.956.5695 bspivey@eflorida.com Frank White 904.366.6600 frankhwhite@yahoo.com Kevin Hale 239.687.5260 kevin.hale@mutualofomahabank.com Daniel Davis 904.366.6600 daniel.davis@myjaxchamber.com Ryan Tennyson 407.999.3034 ryan.tennyson@53.com If a person decides to appeal any decision made by the Board of Directors with respect to any matter considered at this meeting, such person will need a record of the proceedings, and that, for such purpose, they may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. In accordance with the Americans with Disabilities Act, persons needing a special accommodation to participate in this proceeding should contact the FDFC no later than three (3) days prior to the proceeding at the address given in this notice or by telephone at (407) 956-5695. By order of the FDFC. NEED A RIDE? The Guardians of Martin County is sponsoring a bus ride to the FDFC meeting on August 5th; the bus will be leaving its first location at 9:00 a.m. There will be two pickup locations one in Stuart and the other will be in Vero Beach. If you would like to reserve a seat on this bus and get the exact locations, please contact Jessica at 772-546-7480. What are Private Activity Bonds (PABs)? PABs are one form of financing All Aboard Florida is attempting to obtain through our government. AAF claims to be a private company using private funds; however, AAF is attempting to use our government, and hence we the taxpayers, as a channel of financing for their project. Florida NOT All Aboard has always advocated this company should not use our government as a conduit of financing in any way, shape or form. Please keep in mind that the FDFC will only be voting to either approve or not approve the documents necessary to provide one type of financing used to fund the project - the PABs. Your comments should be based on why the FDFC should not approve the PABs based on financial reasons. Examples: 1) Cost to taxpayers in loss of income tax paid on income earned on bonds. This is a form of corporate welfare. 2) The State of Florida should not put a stamp of approval on bonds for such a high risk project. Tril-rail and Amtrak are hemorrhaging money in South Florida and AAF wants to add a third passenger line in the same market. If the bonds are defaulted on, the State of Florida may become embroiled in lawsuits from disgruntled investors who took the approval by the FDFC as a sign of creditability and confidence in the project. The State of Florida should not be involved with financing this private company in any context. Keep taxpayers safe - vote not on the private activity bonds. We need the public to voice your concerns at this meeting in large numbers. Take the time to write or attend. These are our communities to live, love and protect. We can make a difference! Thank you for your support.
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