Railroad Rehabilitation and Improvement Financing Program
The Railroad Rehabilitation and Improvement Financing Program funds research and upgrades for Iowa rail infrastructure through the Iowa Department of Transportation.
Funder: Iowa Department of Transportation
Due Dates: Rolling
Funding Amounts: Up to $35 billion in total lending authority; individual loans/guarantees can fund up to 100% of project costs (typical max 35-year term; up to 75 years for some assets). At least $7 billion reserved for freight railroads other than Class I carriers.
Summary: Provides direct loans and loan guarantees for the development, improvement, and modernization of railroad infrastructure in Iowa.
Key Information: No application or closing fees, but applicants pay external advisor costs; NEPA/federal compliance required.
Description
The Railroad Rehabilitation and Improvement Financing (RRIF) Program, administered by the Iowa Department of Transportation, offers direct loans and loan guarantees to support the development, modernization, and rehabilitation of rail infrastructure across Iowa. Funding can be used for a wide range of eligible activities, including acquiring, improving, or rehabilitating rail equipment and facilities (tracks, bridges, yards, shops, positive train control systems), developing new railroad or intermodal facilities, reimbursing planning and design costs, refinancing eligible debt, and financing transit-oriented development projects. The program aims to enhance the efficiency, safety, and competitiveness of Iowa’s rail network, with a significant portion of funds reserved for smaller freight railroads.
