Railroad Rehabilitation and Improvement Financing Program

 

The RRIF program provides direct loans and loan guarantees to State and local governments, interstate compacts consented to by Congress under section 410(a) of the Amtrak Reform and Accountability Act of 1997 ( 49 U.S.C. 24101 ); government sponsored authorities and corporations; railroads; joint ventures that include at least one railroad; and solely for the purpose of constructing a rail connection between a plant or facility and a second rail carrier, limited option rail freight shippers that own or operate a plant or other facility that is served by no more than a single railroad.

Active 20.316 Office of The Secretary, Department of Transportation E - Direct Loans; F - Guaranteed/Insured Loans Fiscal Year 2017 It is projected one loan will close
Fiscal Year 2019 During FY2019, the USDOT approved two RRIF loans totaling over $913 million, including a $908 million loan for a passenger rail project in the Dallas area, and a $5.9 million loan for an improvement project at the Port of Everett, Washington. Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 821, et seq.), 45 U.S.C. 821 Eligible borrowers include railroads, state and local governments, government-sponsored authorities and corporations, joint ventures that include at least one railroad, and limited option freight shippers who intend to construct a new rail connection. The beneficiaries of the Program will be the State or local government organizations, railroad, joint ventures that include a railroad, and limited option freight shippers that will receive the financial assistance to permit them to complete the specified projects. Application is required and other related information/documentation as needed. Preapplication coordination is required. An environmental impact statement is required for this listing. An environmental impact assessment is required for this listing. This program is excluded from coverage under E.O. 12372. A pre-application meeting may be held if requested by a potential applicant. Procedures for requesting such a meeting are available on the FRA website and at 49 CFR 260.19. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Complete and submit application form available on the FRA website. FRA will evaluate application and advise applicant of approval or disapproval. Not applicable. The Federal Railroad Administration (FRA) will approve or disapprove a request for a loan within 90 days after receipt of a complete application. Not applicable. Not applicable. The program provides direct loans and loan guarantees to State and local governments, government-sponsored authorities and corporations, railroads, and joint ventures that include at least one railroad. Eligible projects include: (1) refinancing outstanding debt that was incurred for eligible purposes, (2) developing or establishing new intermodal or railroad facilities, or (3) acquisition, improvement or rehabilitation of intermodal or rail equipment or facilities (including tracks, components of tracks, bridges, yards, buildings and shops). Funds provided by direct loans or loan guarantees under the RRIF Program can be used to: (1) Acquire, improve, or rehabilitate intermodal or rail freight or passenger equipment or facilities, including track, components of track, bridges, yards, buildings and shops (2) Refinance outstanding debt incurred for purposes described in the previous paragraph (3) Develop or establish new intermodal or railroad facilities. Performance Reports: Build America Bureau (Bureau) staff conduct routine and scheduled monitoring of RRIF loans. Routine monitoring includes regular communication with borrowers regarding the status of projects and reviewing periodic reports that borrowers are required to submit. Scheduled monitoring is an annual scheduled activity that includes a desk review and for active projects, a site visit. Questions asked by Bureau cover the following areas: programmatic (scope, schedule, budget), compliance (agreement terms and conditions) and fraud, waste and abuse. A report is then drafted by Bureau staff. Not applicable. Documentary evidence required for each loan varies. However, standard loan terms require financial and project reports as well as evidence of lien perfection for collateral. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. As a part of the application package, the borrower provides a projected timetable for the completion of the project. The funding will be made available to reimburse the Borrower for prior payment of allowable costs incurred in connection with the project. Quarterly or as needed when borrower requests a disbursement to be reimbursed for allowable costs. None/Not specified. Duane Callender
1200 New Jersey Avenue, S.E., W12-426

Washington , DC 20590 US
duane.callendar@dot.gov
Phone: (202) 366-2300 https://www.transportation.gov/buildamerica/programs-services/rrif 69-4420-0-3-401 (Direct Loans) FY 18$220,088,000.00; FY 19 est $923,427,813.00; FY 20 est $600,000,000.00; FY 17$0.00; - One new loan was issued in FY 2018 for $220,000,000. Two loans were issued in FY 2019 for $5,949,999 and $908,000,000. Not applicable. Fiscal Year 2017 Will continue to support Safety infrastructure and refinance purchases of rolling stocks.
Fiscal Year 2018 In FY2018, the US Department of Transportation (DOT) approved a RRIF loan of $220 million to the Massachusetts Bay Transportation Authority for its Positive Train Control Project. The Project is the implementation of positive train control technology and associated supporting infrastructure required to comply with the federally-mandated PTC requirements
Fiscal Year 2019 In FY2019, the USDOT will approve 2 RRIF loans for eligible projects.
Fiscal Year 2020 During FY 2020, the DOT expects to approve 1-3 RRIF loans for eligible projects.