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2013 SCORT – Ohio Session RRIF: FRA – ORDC Pilot

2013 SCORT – Ohio Session RRIF: FRA – ORDC Pilot. 2013 SCORT – Ohio Session RRIF: FRA – ORDC Pilot. Working with the FRA to determine if a state can have a value-added role in providing shortline railroads better access to RRIF Financing.

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2013 SCORT – Ohio Session RRIF: FRA – ORDC Pilot

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  1. 2013 SCORT – Ohio SessionRRIF: FRA – ORDC Pilot

  2. 2013 SCORT – Ohio SessionRRIF: FRA – ORDC Pilot • Working with the FRA to determine if a state can have a value-added role in providing shortline railroads better access to RRIF Financing. • Partnership is the result of comments by Administrator Szabo expressing a desire to get better utilization of the RRIF. • Began conversations in Summer ’12. • FRA-ORDC MOU signed March 2013.

  3. 2013 SCORT – Ohio SessionRRIF: FRA – ORDC Pilot • Why the Pilot? • ORDC has a loan and grant program, but the rail infrastructure needs far exceeds our financial capacity. • We have believed there is a role for states beyond providing funding for the credit risk premium. • Overall, ORDC thinks we can be value-added to both the shortline railroads and the FRA.

  4. 2013 SCORT – Ohio SessionRRIF: FRA – ORDC Pilot • How is ORDC value-added? • For the FRA: ORDC has a good working relationship and a solid knowledge base of Ohio railroads and rail lines, giving us an advantage over the FRA’s Independent Financial Advisors. We can do a lot of screening before the railroads submit the application. • For Railroads: ORDC already has an organizational structure in place for project and financial reviews, as well as NEPA.

  5. 2013 SCORT – Ohio SessionRRIF: FRA – ORDC Pilot • Project Status: • ORDC has completed our “State Advisor Report”. • Ashland Railway submitted its draft application to the FRA on Friday.

  6. 2013 SCORT – Ohio SessionRRIF: FRA – ORDC Pilot • Next Steps: • ORDC will continue to work with Ashland and FRA for loan approval. • ORDC will identify opportunities to improve process.

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