[Federal Register: September 26, 2005 (Volume 70, Number 185)]
[Notices]
[Page 56207]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr26se05-85]
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DEPARTMENT OF TRANSPORTATION
Federal Railroad Administration
Notice Publishing Substantive Criteria for Evaluation of
Applications under the Railroad Rehabilitation and Improvement
Financing Program (RRIF)
AGENCY: Federal Railroad Administration (FRA), Department of
Transportation (DOT).
ACTION: Notice of Evaluation Criteria for RRIF Program.
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SUMMARY: FRA is publishing this notice in response to Congressional
direction contained in section 9003(j) of the recently enacted Safe,
Accountable, Flexible, Efficient Transportation Equity Act: A Legacy
for Users (SAFETEA-LU) requesting the agency to identify the
substantive criteria and standards used by the DOT/FRA to determine
whether to approve or disapprove applications submitted under the RRIF
Program. This information is being provided by publication in the
Federal Register and posting on the DOT/FRA website, as required by the
statute.
FOR FURTHER INFORMATION CONTACT: Joseph Pomponio, Director, Office of
Freight Programs, Federal Railroad Administration, U.S. Department of
Transportation, 1120 Vermont Avenue, NW., Washington, DC 20590.
Telephone: 202-493-6051, e-mail: Joseph.Pomponio@fra.dot.gov. Cynthia
Walters, Attorney, Office of Chief Counsel, Federal Railroad
Administration, U.S. Department of Transportation, 1120 Vermont Avenue,
NW., Washington, DC 20590. Telelphone 202-493-6064, e-mail:
Cynthia.Walters@fra.dot.gov.
SUPPLEMENTARY INFORMATION:
Background
Congress recently amended sections 502 and 503 of the Railroad
Revitalization and Regulatory Reform Act of 1976 (45 U.S.C. 821 et
seq.), in SAFETEA-LU (Pub. L. 109-59). These amendments address DOT's
RRIF program, which authorizes the Secretary of Transportation
(Secretary) to disburse money through direct loans and loan guarantees
to various entities. RRIF loans and loan guarantees are used to
acquire, improve or rehabilitate intermodal or rail equipment and
facilities, refinance debt that was undertaken for such purposes, or to
develop or establish new rail or intermodal facilities. The SAFETEA-LU
amendments expand the total available program obligations from $3.5
billion to $35 billion and make several other program changes. The
Secretary's authority to administer this program has been delegated to
the Administrator of FRA (49 CFR sections 1.49(t) and 260.1, Program
Authority).
In addition to the RRIF program changes, SAFETEA-LU requires the
Department, within thirty days after enactment of the statute, to
publish in the Federal Register and post on the Department's Web site
the substantive criteria and standards used by the Secretary to
determine whether applications will be approved or disapproved for RRIF
loans. The substantive criteria responsive to the request of Congress
are the subject of this notice and are described below.
FRA's Substantive Criteria for Evaluation of RRIF Applications
FRA is providing the criteria and standards used to determine
whether to approve or disapprove an application submitted under section
502 of the Railroad Revitalization and Regulatory Reform Act of 1976.
These criteria are drawn from the legislation authorizing the RRIF
program (45 U.S.C. 821 et seq.) and program implementing regulations
(49 CFR part 260). The words used below to describe the criteria differ
from the statute and the regulations only for purposes of brevity. This
notice does not contain any new criteria or impose any new legal
requirements or have any legal effect other than to satisfy the mandate
from Congress to issue this notice. Determinations are made based on
the following criteria and standards, as more fully set forth in the
statute or the regulations, evaluated individually and considered
collectively.
The statutory eligibility of the applicant and the project
( 49 CFR 260.3, definition of applicant and 49 CFR 260.5, eligible
purposes);
The creditworthiness of the project, including the present
and probable demand for rail services and a reasonable likelihood that
the loan will be repaid on a timely basis. (49 CFR part 260, Subpart B-
FRA policies and procedures for Evaluating Applications for Financial
Assistance)
The extent to which the project will enhance safety. (49
CFR 260.7(a))
The significance of the project on a local, regional, or
national level in terms of generating economic benefits and improving
the railroad transportation system. (49 CFR 260.7(c))
The improvement to the environment that is expected to
result directly or indirectly by the implementation of the project. (49
CFR 260.7(b)) and
The improvement in service or capacity in the railroad
transportation system or the reduction in service-or capacity-related
problems that is expected to result directly or indirectly from the
implementation of the project (45 U.S.C. 822(c))
Issued in Washington, DC on September 19, 2005.
Joseph H. Boardman,
Federal Railroad Administrator.
[FR Doc. 05-19094 Filed 9-23-05; 8:45 am]
BILLING CODE 4910-06-P