Fortress’s Brightline May Seek California Bonds for Las Vegas Train
- State expects train project to request tax-free bonds in 2023
- High-speed line is also angling for federal infrastructure aid
A person looks out of a Brightline train door in West Palm Beach, Florida.
Photographer: Scott McIntyre/BloombergThis article is for subscribers only.
California may again reserve some of a limited financing resource for Fortress Investment Group’s passenger train to Las Vegas next year, a venture that failed to win over investors in 2020.
The high-speed rail project might apply for $200 million in bonds, according to Nancee Robles, interim executive director of the California Debt Limit Allocation Committee, as the state prepares to allocate the tax-free, private activity bonds. She commented by email Wednesday after a meeting.