Brightline has provided an update on the commuter rail service planned on its tracks, known as the Northeast Corridor.
The project is expected to formally move to the engineering phase in October 2024, according to a development update released to investors on September 20.
Brightline said it has substantially completed negotiations with Miami-Dade County on the terms of the definitive agreements for the commuter project.
County commissioners are anticipated to vote on the final agreement in the fourth quarter. Once the vote is completed and the engineering phase begins, the company anticipates receiving its first milestone payment for rights to the corridor.
FDOT recently agreed to increase its financial commitment to the project from $103.5m to $236.5m.
Broward’s deal, which would see the commuter train service extended to Fort Lauderdale, is also near. Approval and execution of agreements with Broward is expected in the fourth quarter.
