Feds Halt Review Of $5.5B Loan For Vegas Rail Plan

Law360, New York (July 18, 2013, 8:27 PM EDT) -- Rail developer XpressWest has vowed to continue moving forward with its plans to build a high-speed line between California and Las Vegas, despite two federal agencies suspending their review of a $5.5 billion loan request for the project, according to a Wednesday statement.

Citing the company's failure to conform to the agencies' Buy America policies, the U.S. Department of Transportation and Federal Railroad Administration said they had nixed its chances to snag a Railroad Rehabilitation & Improvement Financing loan, according to a redacted June 28 letter released...
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