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| INTERCITY       FREIGHT AND PASSENGER RAIL:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            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| ***Transportation Infrastructure           Finance and Innovation Act (TIFIA)***

Total Funds: $10.6 billion           in credit assistance (loans, loan guarantees, and lines of credit).

Eligibility:           Major transportation investments of national significance, including           intermodal facilities. These include Title 23 and Title 49 projects,           international bridges and tunnels, inter-city passenger bus and rail           facilities and vehicles, and publicly owned intermodal freight transfer           facilities (except airports and seaports) on or adjacent to the NHS.           Eligible projects must total at least $100 million or 50 percent of           a state's annual highway apportionment (except $30 million for Intelligent           Transportation System (ITS) projects) and be supported by user cargo           or other dedicated revenue streams. TIFIA assistance is limited to one           third of eligible project costs.� For further information see FHWA's           web-site at:**�**http://www.fhwa.dot.gov/tea21/factsheets/tifia.htm

*Examples of approved rail           and rail-related projects under TIFIA:*

**Farley-Penn           Station (New York City, New York).**�This project will           expand and refurbish the James A. Farley Post Office Building and the           existing Pennsylvania Station Complex as an intermodal transportation           facility and commercial center that will meet New York's transportation           needs. Together with the existing Penn Station, the Farley Building           will provide a safe and efficient passenger complex for Amtrak, commuter           rail, subway, airport access, bus and taxi passengers, as well as the           U.S. Postal Service. The project increases station capacity by 30%,           doubles passenger circulation space, and provides a grand, new Manhattan           terminal to accommodate new high-speed rail service between Boston and           Washington.� The Farley-Pennsylvania Station Redevelopment Project is           estimated to cost $749 million and to be completed by December 2003.****Two Federal TIFIA credit instruments will be provided: a� $140 million           direct loan and a $20 million line of credit. The repayment source for           both credit instruments is lease payments from retail development in           the Farley Building and the existing Penn Station. 
****
**Miami Intermodal           Center� (Miami, Florida).�**The Miami Intermodal Center will improve           access to the Miami International Airport, relieve roadway congestion           within the airport, and provide a regional****transportation center           for transit, commuter rail, Amtrak, and inter-city bus services. **�**Components           of the facility will include a consolidated rental car facility, an           automated people mover, strategic highway improvements, and links to           transit systems.� The estimated cost of the Miami Intermodal Center           is $1.349 billion and the project is expected to be completed by April           2005.� Two federal TIFIA direct loans will be provided:� one for $269           million, secured by state fuel tax revenues, and the other, for the           rental car facility, in the amount of $167 million, secured by rental           car fees.� 

***Railroad Rehabilitation and Improvement Financing***

Total Funds: $3.5 billion           in loans and guarantees.

**Eligibility:**           Public or private sponsors of intermodal and rail projects, limited           to $3.5 billion overall, with $1 billion reserved for projects benefitting           freight railroads other than Class I carriers. Projects can include           acquisition, development, improvement, or rehabilitation of intermodal           or rail equipment or facilities. The Railroad Rehabilitation and Improvement           Financing program is intended to make funding available through loans           and loan guarantees for railroad capital improvements. No direct federal           funding is authorized in TEA-21; however, the Secretary is authorized           to accept a commitment from a non-Federal source to fund the required           credit risk premium. 

FRA is currently           reviewing proposals under the RRIF program but no projects have yet           been approved.� See FRA's website for further updates at:� 

http://www.fra.dot.gov/o/counsel/rrif.htm

and:� http://www.fra.dot.gov/o/counsel/regs/cfr00/part/49CFR260_00.htm

or FHWA's web-site at:

http://www.fhwa.dot.gov/tea21/factsheets/r-rrehab.htm���������           

Site         Index

Section         1.

Section         2.

Section         3.Section 4.Surface Transportation         ProgramTIFIANCPD and CBI ProgramsTransportation Enhancements         Program

Section         5.Air QualityEnergy**TEA-21         Role in Transportation and the Environment**

Section         6.�

Appendix         1.        Appendix 2.        Appendix 3.

 
   
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