Will California High-Speed Rail private investors take any real risk?

California High-Speed Rail is giving up on legal efforts to restore federal funding and pivoting to a public-private partnership model. In a pre-Christmas press release, the Authority announced a “Request for Qualifications for a Co-Development Agreement … aimed at selecting a private partner to evaluate opportunities to invest and deliver the project faster and more efficiently, while commercializing assets (e.g. station facilities, track access, fiber, power, real estate, and others) at the...