FOR IMMEDIATE RELEASE:

SunRail: Back on Track

Federal Stimulus Dollars and a Broader Commitment to
Rail Transportation Nationwide Gives SunRail New Life

ORLANDO - June 29, 2009: SunRail Chairman and Orlando Mayor Buddy Dyer and U.S. Rep John Mica today briefed lawmakers and a host of Central Florida’s business and civic leaders on the progress of the effort to revive SunRail, the Central Florida Commuter Rail Project.

Their message: SunRail is back on track.

Dyer and Mica outlined a new plan for SunRail that leverages federal stimulus dollars to dramatically lessen the financial burden on Florida’s budget. The plan also includes a commitment to adjust liability provisions in the original SunRail plan that many state lawmakers opposed.

“Our state Senators made it clear they supported the creation of SunRail,” said Dyer. “Their concerns centered on the amount of state funds designated for the project during tough financial times and on the creation of a statewide liability provision. We have gone back to the drawing board to resolve these concerns and we have come up with an amended plan to reflect the wishes of the Florida Legislature while maintaining our local financial contributions. Our new plan is a win for all of Florida.”

Today’s announcement comes less than a week after a meeting between Mayor Dyer, Congressman Mica, Congresswoman Brown and officials from the Federal Transit Administration in which the FTA committed to keep the project in the “Final Design” stage despite delays.

“What we need to remember is that there are many bumps in the road in all major transportation projects like this one, said Congressman Mica. “This commitment ensures we are on target to keep SunRail moving forward, that’s what’s important.”

Dyer and Mica also reported that FTA officials envision Florida as a prime corridor for high speed rail. But, they say, high speed rail cannot exist without the creation of local, commuter lines to form a rail network.

“What the feds are telling us is that if you support high speed rail then you have to support SunRail,” remarked Dyer.

“The federal government is an even bigger partner now and what happens in Central Florida will be key to all other future rail projects in the state,” said Mica.

A new liability provision could come before the Florida Legislature as part of a special session later this year or during the 2010 regular session.

SunRail: Back on Track
Plan Details

• $432 million funding to purchase the corridor for the rail line will come from federal stimulus money – and a Federal Rail Administration (FRA) loan at a lower interest rate than the original commuter rail agreement, saving the state of Florida more money.
   
• The terms for the $615 million for construction of the project remain unchanged.
  • 50% will come from federal dollars
  • 25% from the state
  • 25% from the local funding partners.
     
• The state of Florida will still fund the first seven years of SunRail’s operations with the local funding partners taking over in year eight, as outlined in the original SunRail plan.
   
• No additional money will be required for any of the local funding partners.
   
• CSX Corporation agrees to extend the agreement to purchase the rail line as well as look at new terms of liability.
   
• The Federal Transit Administration (FTA) committed to keep the federal funding schedule in place for SunRail and to keep the project in the “Final Design” Stage.
  
  *Attachments
  1 – Copy of the letter from CSX extending the SunRail agreement
  2 – Copy of the letter from the FTA regarding federal funding
   

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