Martin County and the city of Stuart are offering to pay about 75% of the cost for a new Brightline station if the rail line chooses to build its Treasure Coast station near the county courthouse.
The station, which would be located at 500 Southeast Flagler Ave. in Stuart, would cost up to $60 million based on the application WPTV received from a public records request.
The county and Brightline would split evenly the expenses to build the new station and any additional track work at 50%, which it estimates wouldn’t exceed $30 million. The city of Stuart would pay 100% of the expenses related to a parking garage and streets, which it estimates wouldn’t exceed $30 million.
The Martin County Tourist Development Council has also offered $800,000 to market the railroad and station $200,000 of that figure would pay for tickets as an initial ridership commitment.
According to the application, the county and city have applied for grants to offset the cost.
The city of Stuart would then lease the property to Brightline at a rate of $1 a year for a maximum period of 80 years. A similar proposal was used to build a Brightline station in Miami-Dade County and Boca Raton.
This application is the first to become public as private and public entities have until Friday at 5 p.m. to submit their proposals for Brightline’s Treasure Coast train station unless the railroad extends the deadline.
WPTV has previously reported that the railroad promised to build a station in the Treasure Coast to settle a lawsuit with Martin County.
WPTV is expecting applications from the city of Fort Pierce, who said it was tweaking its application before the deadline, and a private developer called Audubon Development. However, more applications could still be submitted before Friday’s deadline.
Brightline is asking applicants to identify themselves, the location of a station, and financial assistance packages that Brightline would receive, among other details.
Various entities are interested in the location of a train station, which they believe brings various benefits.