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FLORIDA DEVELOPMENT FINANCE CORPORATION <br />NOTICE OF PUBLIC HEARING <br />Aliment <br />...� Gist* naih Ent cast <br />Aitivay Egli& <br />Statirfs <br />For the purposes of Section 147(0 of the Internal <br />Revenue Code of 1986, as amended, notice is hereby <br />given that the Florida Development Finance <br />Corporation ("FDFC") will hold a public hearing on <br />April 20, 2015 at 9:00 a.m, located at Residence Inn, <br />600 West Gaines Street, Tallahassee, Florida 32304, to <br />provide a reasonable opportunity for interested persons <br />to express their views both orally or in writing on the <br />proposed issuance by the FDFC of its Transportation <br />Facilities Revenue Bonds (AAF Holdings LLC <br />Project), Series 2015 (the "Bonds") in an amount not to <br />exceed $1,750,000,000. The proceeds of the Bonds <br />will be loaned by the FDFC to AAF Holdings LLC, <br />and one or more of its affiliates, subsidiaries or related <br />entities (collectively, the "Borrower"). The Borrower <br />will use the proceeds of the Bonds to (i) finance or <br />refinance the cost of (or reimburse themselves for prior <br />expenditures for) acquisition, construction, renovation <br />and equipping of a privately owned and operated <br />intercity passenger rail system with stations located in <br />Orlando, West Palm Beach, Fort Lauderdale and <br />Miami, Florida, (ii) fund debt service reserves, if any; <br />(iii) fund capitalized interest on the Bonds, if any; and <br />(iv) pay costs associated with the issuance of the <br />Bonds (collectively, the "Project"). The facilities to be <br />financed with the proceeds of the Bonds will be <br />located only in Miami -Dade, Broward, Palm Beach, <br />Brevard and Orange Counties. A further description of <br />that portion of the Project located in Miami -Dade, Broward, Palm Beach, Brevard and <br />Orange Counties is set forth below. The Project will utilize the existing Florida East <br />Coast Railway corridor in Miami -Dade, Broward and Palm Beach counties and a portion <br />in Brevard County. In Brevard County, the Borrower will utilize the existing Florida East <br />Coast Railway corridor between the southern Brevard County line and the existing <br />Florida East Coast Railway spur in Cocoa. From there, the proposed Project route would <br />utilize the existing spur that veers west from the Florida East Coast Railway mainline and <br />the new rail construction along the State Road 528 right of way. In Orange County, the <br />Borrower will build new rail along the existing State Road 528 right of way. The <br />passenger rail stations will be located at the following locations: 605 NW 1S` Avenue, <br />Miami, FL on an approximately 9 acre site; 101 NW 2°d Ave, Fort Lauderdale, FL on an <br />MIA 184170829v7 <br />