BRADENTON, Fla. — Florida is on a fast track to complete the first high-speed rail project in the U.S. with a new application for $1.12 billion in funding from the Federal Railroad Administration’s service development program.

The state received $1.25 billion in January made available initially under the American Recovery and Reinvestment Act for the first phase of the fast train between Tampa and Orlando. But that was short of the $2.65 billion the state requested in its ARRA application.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.