Railroad Rehabilitation & Improvement Financing (RRIF)
Build America Bureau
To provide direct loans and loan guarantees to finance development of railroad infrastructure. Funding may help to acquire, improve, or rehabilitate intermodal or rail equipment or facilities; develop or establish new intermodal or railroad facilities; or reimburse planning and design expenses related to the activities above.
Applicant and/or Project Eligibility Requirements
Eligible borrowers include railroads, state and local governments, government-sponsored authorities and corporations, limited option freight shippers that intend to construct a new rail connection, and joint ventures that include at least one of the preceding.
Eligible activities include a variety of rail transportation infrastructure improvements. Eligible activities have historically included Transit Oriented Development (until September 30, 2021).
See the "Equity Design Considerations for Federal Funding" for general considerations and additional sector-based resources: https://cityrenewables.org/resources/equity-design-considerations-for-federal-funding/
States may use PROTECT Formula Program funds to conduct resilience planning, strengthen and protect evacuation routes, and increase the resilience of surface transportation infrastructure from the impacts of sea level rise, flooding, wildfires, extreme weather events, and other natural disasters. Highway, transit, and certain port projects are eligible.
Expedited, low-cost loans are available for short-line and regional railroads. Eligible borrowers include Class II & III Railroads, Commuter Railroads, and Joint Ventures.