Citizens' Independent Transportation Trust - Regular Meeting

Can you hear me now. What does this mean we're going to give the someone that almost 4 million dollars for buses that we no longer use is that what we're saying.

What about the area on I 95 is that still an area that's exclusively used by buses of.

We're going to issue $350 million worth of bonds, and it does list in the packet all the different things they're going to use it on. Are all those going to start at the same time so they can use the money right away, or is the money just going to sit there?

Okay, so I understand what we're doing is approving a drawdown bond program. Correct. And we've been provided in our memorandum the capital improvements that DTPW is considering this bond program to fund. So for example, this $350 million, there's $113 million in sort of like allocated projected amounts for metro-related projects. Will those contracts, whatever they are for, come to us for approval at some point?

so what's so i mean if i'm understanding correctly we're creating the bond program um the uh then dtbw will have the ability to go out and acquire these funds uh and at whatever the rate happens to be and then deploy those funds for these specific projects but why are we doing it this way right is this like historic practice or is this a new approach to how to fund these projects

Yeah. So, I mean, this is a bond authorization. So from the trust vantage point, what is the fiscal impact to the trust on an immediate basis, right? Because what we're doing is obligating trust funds to pay back these bonds once the bond program is established. But for instance, in 2026, 2027, is there any impact to trust funds? That's one question I had, and then I have a separate question.

It's available, but exactly what you tell me is if you drew down $20 million in a particular fiscal year, the repayment would be essentially $900,000. $20,000 a month.

twenty million a month in the first year we've that would be our team okay uh... twenty million a month okay the way you have allocated the three hundred and fifty million dollars among these different uh... capital improvement programs uh... i assume all of that is fungible i mean in other words no one is obliging themselves to do any of these projects or to do all of them. In other words, you could move around the bond funds to accomplish whatever objectives the DTPW wants to get done presumably consistent with what the bond funds are for. Correct.

Okay, and just to, maybe this question is pointless to ask, since it's, you may end up doing things in a different direction than what's been programmed here. Just going off Member Kilpatrick's question about the $60 million that we see that's for the SMART program, what is that about?

There are any other questions members Yes, mr. Hoffman, yes through the chair of this ten million dollars for miscellaneous projects That's a lot of money for miscellaneous I'm sorry. I haven't read the this close to half-inch package you have here What are the miscellaneous projects? Can you give us a few examples? I?

And I'd like to just clarify one thing. We're gonna be on the hook for $350 million eventually. And what we're saying is that these one, two, three, four, five, six, seven, eight categories could increase, we could have additional categories, or we could move some of this money around to other categories, or is this gonna be it?

Very selfish. How do I find out how much of this money goes to District 11? Since they're going to be paying a half-cent sales tax, I mean, they get very little as it is right now, but $350 million is a good chunk of money.

Thank you for the presentation. So on the Northeast Corridor, Uh, I get, I understand there are a lot of moving parts here, right? So has the operating entity been resolved? Cause there was like a three party, three County agreement. Have you got no, um, and what is the status of the operating entity issue?

That makes some sense. I mean, you would think if you want this to run across three counties, whatever access agreement gets sorted out with Brightline should be the same agreement for all three counties. Right. But what you're telling me is No, each county is sort of trying to work out its own. No?

So the, I mean, and I understand the, Access agreement, I guess, is what to call it. Is that what it's being called with Brightline? To use their right-of-way and their rail lines. It's called an access agreement.

And will the ultimate agreement with Brightline be brought to the CITT for review and approval?

Okay. So, I mean, and I appreciate it's a negotiation and there could be sensitivities around that. So, good luck. But, you know, we look forward to receiving it and like as, trust members, we're really dependent on our expert staff, uh, to review that and then advise us. I know how we should, uh, view the proposal. So, you know, we'll appreciate that coming to trust staff with sufficient time for them to sort of, uh, dig into it before we have to look at it.

Thank you very much manager. You mentioned CSX lines in the East West. I thought most of the CSX in fact all of their lines go South down to the homestead Florida city area where they were heavily involved at one time in moving produce out where they have their tracks that go across Kendall drive or Flagler

But does it go the whole length all the way out to FIU?

Thank you very much any questions Yes, sorry to delay the game Can you tell us is this? Flagler study The same as the east-west study or these two different things. There are two different studies Even though they're essentially on the same general geographic area They are two different studies Was there is there a reason as to why there are two different studies for essentially the same general area.

So Miami-Dade County is doing the east-west, and FDOT, the state of Florida, is doing the Flagler.