KEY TAKEAWAYS:
- Executives from Hyperloop transportation technologies visited Tampa to present their technologies to FDOT, local government officials and other entities.
- The technology would use pods in a vacuum-sealed tube and magnetic levitation to launch the vehicles at nearly the speed of sound.
- A high-speed rail to Orlando is also in talks as a way to improve traffic in the I-4 corridor.
- Cost is still a major concern for both parties- the Hyperloop will likely cost billions of dollars.
- With talk of the Rays moving to Ybor City, St. Pete is looking to redevelop the area that the current stadium is in.
- St. Petersburg City Council on Thursday approved its first reading of an amendment to an ordinance that would provide $115 million for projects within the Intown Redevelopment Plan, including the Tropicana Field site and parts of downtown.
- Mayor Bob Buckhorn will lay out the city fiscal budget at a city council meeting July 19th.
- According to documents within the agenda, the city faces a $5 million budget shortfall.