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.
Examples of Funded Projects

Fiscal Year 2017: No Current Data Available Fiscal Year 2018: No Current Data Available Fiscal Year 2019: No Current Data Available


Agency - Department of Transportation

The Department of Transportation's mission is to ensure fast, safe, efficient, accessible and convenient transportation that meets vital national interests and enhances the quality of life of the American people, today and into the future.

Office - See Regional Agency Offices.



Program Accomplishments

Fiscal Year 2017: No Current Data Available Fiscal Year 2018: No Current Data Available Fiscal Year 2019: No Current Data Available

Uses and Use Restrictions

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.

The repayment period for direct loans and loan guarantees is up to 35 years.

The interest rate on direct loans will be equal to the rate on Treasury securities of a similar term.

Eligibility Requirements

Applicant Eligibility

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.

Beneficiary Eligibility

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.

Credentials/Documentation

Application is required and other related information/documentation as needed. 2 CFR 200, Subpart E - Cost Principles applies to this program.

Aplication and Award Process

Preapplication Coordination

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.

An environmental impact statement is required for this program.

An environmental impact assessment is required for this program.

This program is excluded from coverage under E.O.

12372.

Application Procedures

This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Complete and submit application form available on the FRA website.

Award Procedures

FRA will evaluate application and advise applicant of approval or disapproval.

Deadlines

Not Applicable.

Authorization

Railroad Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 821, et seq.), 45 U.S.C 821.

Range of Approval/Disapproval Time

The Federal Railroad Administration (FRA) will approve or disapprove a request for a loan within 90 days after receipt of a complete application.

Appeals

Not Applicable.

Renewals

Disapproved applicants may reapply at any time.

Assistance Considerations

Formula and Matching Requirements

This program has no statutory formula. This program has no matching requirements. MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

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. See the following for information on how assistance is awarded/released: Quarterly or as needed when borrower requests a disbursement to be reimbursed for allowable costs.

Post Assistance Requirements

Reports

Program reports are not applicable.

Financial statements are required to be submitted for the life of the financial assistance.

During the course of the project, monthly progress reports of work completed and actual expenditures compared to the budget.

Yearly audited and certified profit and loss statement, balance sheet and statement of cash flows must be submitted for the life of the financial assistance.

During the course of the project, monthly progress reports of work completed and actual expenditures compared to the budget.

FRA 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 FRA cover the following areas: programmatic (scope, schedule, budget), compliance (agreement terms and conditions) and fraud, waste and abuse.

A report is then drafted by FRA staff.

Audits

No audits are required for this program.

Records

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.

Financial Information

Account Identification

69-4420-0-3-401.

Obigations

(Direct Loans) FY 17 Not Available; FY 18 est $600,000,000; and FY 19 Estimate Not Available

Range and Average of Financial Assistance

No Data Available.

Regulations, Guidelines, and Literature

Not Applicable.

Information Contacts

Regional or Local Office

See Regional Agency Offices.

Headquarters Office

Duane Callender 1200 New Jersey Avenue, S.E., W12-426 , Washington , District of Columbia 20590 Phone: (202) 366-1059

Criteria for Selecting Proposals

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).


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