Transportation Investment Moves the Economy in the 21st Century (TIME-21) Fund
Access Rail Fund
Rail Assistance Programs - Iowa DOT:

• Rail Revolving Loan and Grant Program (RRLGP)
• Railroad Rehabilitation and Improvement Financing (RRIF)
• Transportation Infrastructure Finance and Innovation Act (TIFIA)

Intermodal Pilot Project

Transportation Investment Moves the Economy in the 21st Century (TIME-21) Fund

The report, “Study of Iowa's Current Road Use Tax Funds (RUTF) and Future Road Maintenance and Construction Needs,” from the Iowa Department of Transportation (Iowa DOT) to the Iowa General Assembly concerning enhancing Iowa 's economy through investments in transportation infrastructure is now available. 

The report documents the fact that Iowa's public roads system will experience a $4 billion shortfall in funding for its most critical needs over the next 20 years, based on current projected revenues and expected construction and maintenance needs.  The report recommends an increase of $200 million annually to meet these critical roadway needs.

For more information, go to the website:

http://www.dot.state.ia.us/time21/index.htm

Access Rail Fund

Access Rail is an initiative offered by the Iowa DOT to expand the ability of the Rail Revolving Loan and Grant program to assist businesses in accessing and growing Iowa's rail transportation system.

The issue in brief

• Freight transportation is rapidly growing and the rail system is a critical component of the state's overall transportation system. Improvements and expansion of the rail system is vital to accommodate the increased freight being shipped by rail.
• For businesses, access to rail transportation can lower costs and open more distant markets, which add to the bottom line and help businesses be more profitable and grow.
• For communities, access to a rail connection can spur job growth and development.
• For railroads, new customers lead to higher revenues and the capability to invest in improvements to their rail infrastructure.
• For Iowa, the availability of a strong rail system adds to the state's future economic potential.

The need in brief

• Demand for assistance from the RRLGP, which provides financial assistance to build or upgrade rail facilities, has far outstripped available funds. In the first two rounds of funding, 37 projects requesting over $25 million in assistance competed for a little over $5 million in grants and loans.
• The RRLGP may award up to fifty percent of the available funds in grants with the remaining funds offered as loan assistance. Though loan repayments are returned to the fund, grant awards will rapidly shrink the funds available for future years.

The solution

Support an investment by the Iowa General Assembly of $2 million per year for five years. Reassess the program and rail investment needs after 2012.

For more information, go to the website:

www.iowarail.com/assistance/AccessRail/accessrail.htm

Rail Assistance Programs - Iowa DOT

On the Iowa Department of Transportation (DOT) Office of Rail Transportation’s website, there are funding sources available for rail development and intermodal projects, such as:

• Rail Revolving Loan and Grant Program (RRLGP) - administrated by Iowa Railway Finance Authority (IRFA);
• Railroad Rehabilitation and Improvement Financing (RRIF) – administered by the Federal Railroad Association;
• Transportation Infrastructure Finance and Innovation Act (TIFIA) - administered by the Federal Railroad Association; and,
• Intermodal Pilot Projects.

Intermodal Pilot Project

The Iowa DOT currently has one funding program, the Intermodal Pilot Project Program, to provide assistance to intermodal projects. This funding came from oil overcharge funds through the Department of Energy to the Iowa Department of Natural Resources and then to the Iowa Department of Transportation in the late 1980s. The fund was established with $725,000 for new intermodal transportation facilities or to improve, restore, conserve, repair, rehabilitate or expand existing intermodal transportation facilities. Energy conservation is a primary criterion for this funding. Funding of $700,000 is currently available for loans.

The Iowa Code 473.11 provides trust establishment and disbursement details. The Iowa Administrative rules can be found in Transportation [761] Chapter 201 providing general information, program description and eligibility. The IPPP Checklist is available in PDF format. The Funding Guide provides supplementary information. For assistance with the Intermodal Pilot Project, contact Larry Mesenbrink, (515) 239-1066.

For more information, go to the website: www.iowarail.com/funding/intermodal.asp