TALLAHASSEE, FL-Politically-scarred from the presidential ballot debacle, Gov. Jeb Bush, brother of President-elect George W. Bush, faces a second thorny issue: a proposal to build a 200-mile, high-speed railway system that could wind up costing taxpayers $10 billion. The governor killed funding for a similar proposal last year.

This time, however, Lakeland, FL millionaire C.C. Dockery, the bullet train’s current banner-carrier, is using the Florida Constitution to press for the project. He argues the governor has no choice but to obey the results of a Nov. 7 constitutional amendment ballot approved by 2.9 million voters that urged the state to build a bullet train network. Anti-rail activists and numerous legislators, however, reply that most voters didn’t know what they were really voting on, not unlike the south Florida presidential ballot chad fiasco.

Commercial real estate developers, meanwhile, are undecided how much new product the train project would trigger around stations. Unanswered is how much passenger traffic the venture would attract to make it worthwhile for developers/investors to begin new enterprises.

Dockery, a former chairman of the state’s High Speed Rail Commission, knows his way around the political corridors in Florida’s capital, 250 miles north of Downtown Orlando. He is asking Bush to create the Florida High Speed Rail Authority to get the train project going.

Dockery’s proposal formally goes to the Legislature in March. He wants lawmakers to use the $70 million a year budgeted originally in 1998 to start the railway’s construction. Dockery maintains passenger fare revenue will be enough to pay for the construction debt. Opponents discount that argument, contending there will be a dearth of passengers and the state and taxpayers will wind up paying an astronomical subsidy of about $200 per passenger.

The proposed train’s initial leg would be between Orlando and Tampa, an 80-mile hop, with a midway stop in Lakeland, Dockery’s home town, 60 miles south of Downtown Orlando. Future rail phases would take in the Port Canaveral/Cocoa region, Fort Pierce, West Palm Beach, Fort Lauderdale, Miami, Fort Myers/Naples, Bradenton/Sarasota, Daytona Beach, St. Augustine/Jacksonville, Ocala, Gainesville, Tallahassee and Pensacola.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt. NET LEASE Fall 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.