$3.25 billion in bonds approved for high-speed train between Las Vegas and Victorville

LAS VEGAS (KSNV) — In what could be the first sign of real progress being made for a high-speed train between Las Vegas and Victorville, $3.25 billion worth of bonds were approved this week for the project being planned by Virgin Trains.

Officials from the California Infrastructure and Economic Development Bank approved several tax-exempt revenue bonds for Desert Xpress Enterprises for a high-speed rail project in San Bernardino County.

“This is an exciting day not just because it’s the largest bond request IBank has ever received and approved, but also because of what having high-speed rail can do for Southern California,” Acting Executive Director Nancee Robles said.

Such a project is expected to create more than 15,750 construction jobs as well as employ more than 400 people when it is completed.

A proposed station in Las Vegas would be near Warm Springs and Interstate 15 and the electric trains would operate on a 45-minute departure schedule. Future plans to expand into Los Angeles and Palmdale are also in the works.

“Moving toward clean, green electrified high-speed rail is the future,” said Lenny Mendonca, Chairman of the Board for IBANK.

Last month, California officials approved an additional $300 million in bonds to assist with funding.

Courtesy of News 3 Las Vegas

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