Las Vegas Train Bonds Will Go To California Housing

August 30, 2021
Romy Varghese - Bloomberg

California reallocated $200 million of tax-exempt private activity bonds formerly reserved for Fortress Investment Group’s Las Vegas tourist train to be used instead by affordable housing projects.

In January, the state’s Debt Limit Allocation Committee set aside that portion of California’s limited financing resource in anticipation that the firm’s Brightline Holdings would request it later in the year. Instead, the venture said in June it will seek an undisclosed amount of debt next year. The committee’s three-member board on Wednesday unanimously approved moving the bonds to housing.



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