Posts Tagged ‘grant programs’

DOT Creates Grant Program for Short Line Railroads

December 14, 2019

The U.S. Department of Transportation has created a pilot program to speed up approval of long-term, low-cost loans for short-line and regional railroads.

In a news release, DOT said the Railroad Rehabilitation and Investment Financing Express program seeks to cut the time and costs associated with securing loans to modernize aging freight-rail infrastructure.

Also included in the initiative is up to $26 million in additional financial support.

DOT’s Build America Bureau will administer the program. Letters of interest will be accepted Jan. 12 through April 11, 2020.