The builders of any Florida high-speed rail project should be responsible for cost overruns and all operating losses, suggests a new report from the Reason Foundation. Written by the Antiplanner’s faithful ally, Wendell Cox, the report suggests that rail construction is likely to go at least 40 percent over projected costs and that rail fares are not likely to cover operating costs.
The report notes that California has decided to build the first segment of its high-speed rail line in the flat Central Valley, where costs should be not significantly greater than those in Florida. Yet California is projecting costs of $64 million per mile, while Florida’s costs are projected to be only $32 million per mile.
