Remarks by Paul J. Schwiep, Esq
11 remarks on the record, newest first · Page 1 of 1
- Play at 10:50
“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?”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 11:50
“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”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 21:17
“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.”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 22:23
“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.”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 22:42
“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.”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 23:58
“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?”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 57:32
“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?”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 58:26
“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?”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 59:08
“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.”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 1:00:24
“And will the ultimate agreement with Brightline be brought to the CITT for review and approval?”
Citizens' Independent Transportation Trust · Jun 24, 2026
- Play at 1:00:44
“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.”
Citizens' Independent Transportation Trust · Jun 24, 2026