"The modifications combine to form a robust and significant improvement to the program and should allow for more short-line projects to be presented and selected for funding," said ASLRRA President Chuck Baker.Photo – aslrra.org
The American Short Line and Regional Railroad Association (ASLRRA) has endorsed the U.S. Department of Transportation's (USDOT) recent changes to the federal Railroad Rehabilitation and Improvement Funding (RRIF) Express program, saying the reforms will make it easier for short lines to access government loans to help fund infrastructure upgrades.
Changes to the RRIF Express program — unveiled as RRIF Express 2.0 — include extending the filing time for applications; increasing the size of eligible loans to $150 million; expanding the scope of eligible projects to include nearly everything under the traditional program; increasing the option for a loan used for refinancing to up to 75 percent; and increasing the potential amount of Credit Risk Premium subsidy to a maximum of 10% of loan size.