Commuter Rail Can't Fly In Orlando
First, let’s consider the price. According to Gov. Bush’s office, the state will pay CSX Transportation $150 million for 61 miles of existing tracks between DeLand in Volusia County and Poinciana in Osceola County. As part of the project, another $23 million will be spent to relocate operations from Taft Yard in Orlando to the new CSX Integrated Logistics Center the railroad will build in Winter Haven.
Sounds like a bargain so far, but then you have to consider the estimated $475 million it will take to actually build the commuter rail system, including at least 16 stops. So, now we’re up to $625 million.
Next, we have to consider that this particular deal also includes a promise by the state to spend an additional $259 million to improve other CSX infrastructure or otherwise accommodate the railroad. It also includes $59 million to build five road overpasses in Alachua, Sumter and Marion counties.
Are these additional improvements part and parcel to the commuter rail portion of the deal? Did CSX say, “We’ll sell you the 61 miles of track if you pay for these other items?” Hard to say. I called both the governor’s office and CSX for comment. The governor’s press aides simply sent me their original press release, and CSX didn’t call me back in time for this column. -- Florida Real Estate Journal