“We appreciate the continued support of our investors, lenders, and other key stakeholders, as we continue to advance this important project.” “Texas Central is continuing to seek further investment, and is moving forward with the development of this high-speed train,” Tom Becker, a senior managing director with FTI Consulting, said in a statement. And land acquisition seems to have all but stopped in the last two years, according to land records reviewed by The Texas Tribune.Ī spokesperson for the company, who is employed by a consulting firm that handles Texas Central’s media requests, says the project is still in the works. The project’s original timeline had already gone off the rails (at one point the construction was slated to begin in 2017). By the time the court ruled, though, Texas Central’s board had reportedly disbanded and its CEO and president had resigned. In June, the Texas Supreme Court settled the matter and handed the company what could be a watershed victory, ruling that Texas Central can use eminent domain for its high-profile project. Perhaps the biggest battle, though, came from legal challenges to the company’s claims that state law allows it to forcibly purchase property when owners aren’t willing to voluntarily sell. Through multiple business entities who often use some version of the Texas Central moniker, developers of the project spent years raising hundreds of millions of dollars for construction, fighting conservative lawmakers’ attempts to dampen their plans and buying land needed to lay the tracks.
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