Rail Revolving Loan and Grant Fund
$1.5 million was appropriated for the Railroad Revolving Loan and Grant Fund (RRLGF) in House File 822. Of the amount appropriated, $1 million was allocated for replacement of the Union Pacific Railroad bridge over the Cedar River in Waterloo. This bridge was used by the Iowa Northern Railroad to serve John Deere’s East Donald Street Tractor Works and transport Deere tractors over that line to Cedar Rapids. The bridge collapsed during the 2008 flood.
The RRLGF was created by the 2005 Iowa legislature. The program is administered by the Iowa DOT, with policy direction established and project approvals made by the Iowa Transportation Commission.
This program provides assistance to improve facilities that will spur economic development and job growth, and provide assistance to railroads for the preservation and improvement of the rail transportation system.
The program can provide assistance as either loans or grants. Industries, railroads, local governments, and economic development agencies may apply for financial assistance for projects such as:
- Building rail spurs to a new or expanding development.
- Building or rebuilding sidings to accommodate growth.
- Purchasing or rehabilitating existing rail infrastructure.
- Rehabilitating existing rail lines to increase capacity.
- Other rail related development.
Office of Rail Transportation’s Web site; or e-mail or call Rose Wazny at 515-239-1066.