PFAL was appointed to the pool of financial advisors to the US Department of Transportation’s RRIF financing program.
The Railroad Rehabilitation and Improvement Financing (RRIF) Program provided direct federal loans and loan guarantees to finance the development of railroad infrastructure. The Federal Railroad Administration (FRA) gave priority to projects that provided public benefits, including benefits to public safety, the environment, and economic development. In providing financial assistance through RRIF, FRA fulfilled its obligations under the National Environmental Policy Act and related laws, regulations, and orders.
Eligible applicants included:
• Railroads
• State and local governments
• Government-sponsored authorities and corporations
• Joint ventures that included at least one railroad
• Limited option freight shippers who intended to construct a new rail connection
RRIF credit assistance was available to:
• Acquire, improve or rehabilitate intermodal or rail equipment or facilities, including track, track components, bridges, yards, buildings, and shops
• Refinance outstanding debt incurred for the purposes listed above
• Develop or establish new intermodal or railroad facilities