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Getting the Most from State and Federal Programs for RAIL

Getting the Most from State and Federal Programs for RAIL. Peggy Baer - Iowa DOT July 16, 2007 2007 Midwest Regional & Shortline Railroads Conference. Rail Revolving Loan and Grant Program. $2M from the Rebuild Iowa Infrastructure Fund (gambling $$) Uses all previous loan repayments

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Getting the Most from State and Federal Programs for RAIL

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  1. Getting the Most from State and Federal Programs for RAIL Peggy Baer - Iowa DOT July 16, 2007 2007 Midwest Regional & Shortline Railroads Conference

  2. Rail Revolving Loan and Grant Program • $2M from the Rebuild Iowa Infrastructure Fund (gambling $$) • Uses all previous loan repayments • 50% of awards must be loans • Administered by Iowa Railway Finance Authority • Priority on projects that create jobs

  3. RRLGP Process • Identify project categories • Determine evaluation criteria and weights. • Determine amount of funding per project category. • Establish funding decision rules for funding recommendations. • Prepare project rankings and recommendations for each project category.

  4. RRLGP Evaluation Criteria • Immediate Jobs • Program cost per job • Match ratio • Transport savings/program cost • Capital investment/program cost

  5. RRLGP Decision Rules • Offer funding by point rankings by category. • Each category will meet the 50% grant level limit. • Provide grant funding first. • If no grant funds available, offer loan. • Do not grant over $6000 per job. (Cost per job limit) • If no jobs involved, offer loans only.

  6. RRLGP Investments • Branch Line Assistance (10%) : $0 • Industrial Service (30%) : $1,332,010 • Bio-Energy Development (30%): $1,569,000 • Industrial Park Economic Development: (30%) $1,569,000 GRAND TOTAL AWARDED AND ACCEPTED: $4.5M ON 12 PROJECTS

  7. RRLGP Issues • Loan Collateral • Applicant is private company • Due Diligence on company financials • Loan versus grant • Final inspection of work product • Job creation and default

  8. Iowa Clean Air Attainment Program(CMAQ - FHWA) • Bridge modification to allow double stack trains (IAIS RR) • Grade separation over RR tracks (UPRR)

  9. Iowa Clean Air Attainment Program(CMAQ - FHWA) • Wye track connection (CRANDIC/IAIS RR) • Bridge and track upgrade (CRANDIC RR)

  10. Transportation Enhancements (FHWA) • Upgrade platforms and walkways at Amtrak Stations. • Funding for local purchase of abandoned rail lines

  11. SAFETEA-LU Earmarks • Oelwein – Dewar track rehabilitation ($1M) • Bondurant Spur – track rehabilitation ($1M) • Davenport Rail Spur construction ($3M)

  12. Helpful Strategies • Be familiar with program eligibility • Congestion mitigation • Public benefits • Push the envelope – ask! • Program managers who want to make it work • FRA or FHWA office willing to be bold • Be willing to endure the paperwork and requirements • Don’t be in a hurry!

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