The California Infrastructure and Economic Development Bank (IBank) board has approved a $3.25 billion revenue bond for a high-speed rail project in San Bernardino County, Calif.
The bond marks the largest bond request in IBank history.
The XpressWest high-speed rail project will carry passengers from Victorville in Southern California to Las Vegas. More than 130 miles of the rail line will be in California alone and is expected to decrease car trips by 4.5 million annually, which could eliminate 645 million pounds of carbon emissions from the I-15 corridor.
“Moving toward clean, green electrified high-speed rail is the future,” said Lenny Mendonca, IBank chairman of the board. “Yesterday’s vote is evidence of our state’s commitment to making this happen in California. We look forward to continuing to work with DesertXpress as they move towards their goal of project development to ensure that its XpressWest program and California High-Speed Rail can wo
