Latest News from News 3

Las Vegas News | Weather | Sports | Traffic - MyNews3

High-speed train developer waiting for federal funding

Related Links
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 2/12/2013 12:26 pm
LAS VEGAS (KSNV MyNews3) -- The construction of the high-speed rail system project that would run from Victorville, Calif., to Las Vegas is taking longer than anticipated, according to the project's chief operational officer.

The project has all the permits to get construction under way, but money remains a problem.

XpressWest, the company expected to build this massive rail system, is waiting for the approval of a $5.5 billion federal loan. Usually those loans take about a year and half to approve, but because of the amount, it's taking longer.

Andrew Mack, the company's chief operating officer, reported to the Las Vegas Convention and Visitors Authority the company has all the permits in place and approved, but it can't break ground until they get the federal financial backing.

The project also calls for $1.4 billion in private-sector funds. When asked if the company had secured that money yet, Mack declined to answer, citing confidentiality of the agreements.

The train’s developers say the high-speed rail system will hopefully be the first leg of a larger rail network.

Mack says even though the train would run only to Victorville, he expects many travelers to jump on board.

“Victorville is the natural collection point of millions of drivers coming through,” southern California, he said. “Only 40 percent of total Las Vegas visitation comes through SoCal, and almost everyone goes through Victorville. It's a convenient collection point for those drivers.”

The developer says it will cost roughly $100 round trip from Victorville to Las Vegas, with trains running every 20 minutes, which he says will ensure travelers will have the flexibility to come and go as they please.
Share

Slideshows

Popular Right Now:
Woman on scooter killed in 5-vehicle accident

Updated: 11/27/2014 9:38:23 AM

Thanksgiving celebrated at Nellis AFB 

Updated: 11/27/2014 8:04:00 PM

(Sandra Gonzalez / KSNV News 3)
UNLV rodeo team among the best in the nation 

Updated: 11/27/2014 3:23:39 PM

North Las Vegas house fire started in garage

Updated: 11/27/2014 6:18:23 PM

Poll


All content © Copyright 2014 Chesapeake Media I, LLC. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service
You may also view our Sitemap.

FCC assistance for any person with disabilities can be provided by contacting us at publicfilehelp@mynews3.com

KSNV Profile & Public Inspection Files

2014 NBCUniversal Media, LLC. All rights reserved. Portions by Broadcast Interactive Media

FOLLOW US!


Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.