Total cost of the 6.2 mile route is estimated at $185 million to $220 million. That is a fraction of what a traditional mass-transit system would normally cost to build.
Financing could come from the recently passed Infrastructure Investment and Jobs Act, and the federal government is likely to rate the project favorably, the proposal says.
In addition, The Boring Company itself is willing to finance a portion of construction and operation.
The proposal says it would take 36 months to plan and build, assuming permitting is expedited. However, a North Miami Beach commissioner told Bloomberg it would need approval from other nearby municipalities and the Army Corps of Engineers, which could take additional time.