Illinois Administrative Code › Title 92 - TRANSPORTATION › Part 810 - LOCAL RAIL SERVICE ASSISTANCE PROGRAM › Section 810.30 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
The following words or phrases, when used in this Part, and in
				conjunction with the federal rules, shall have the meanings ascribed to them
				below:
"Benefit/Cost" - The ratio of project benefits and the net cost
				of the project.
"Benefits" are categorized into three groups:
Economic Benefits - measured as the addition/retention of
				employment or the avoidable loss of business and its related jobs to a
				community.
Public Benefits - measured as the incremental reduction in
				directly related government expenditures resulting from the implementation of
				the rail project.
Transportation Benefits - measured as the avoidable, additional
				cost of transporting affected freight shipments by other modes or other
				routing.
"Contract" - The written agreement between the recipient and
				the Department defining the project and terms of the loan or grant.
"Department" - The Illinois Department of
				Transportation.
"FRA" - The Federal Railroad Administration.
"Light Density Rail Line" - Those rail lines which carry less
				than 3 million gross tons per mile per year.
"Local Rail Service Assistance Program (LRSA)" - The LRSA
				program provides loans or grants for capital improvements to light density rail
				lines and for substitute service projects. LRSA funding is normally 70 percent
				federal and 30 percent State or local, but these percentages may change in the
				future. Federal funding levels are determined by Congress and may be altered
				from time to time due to amendments to the Department of Transportation Act (
				49 U.S.C. 1654 as amended by the Local Rail Service Assistance Act of
				1978).
"Project Life" - The number of years the recipient is willing
				to commit itself, or is required, to provide service over a line. In the
				benefit/cost analysis, project life is the period of time over which proposed
				project benefits and costs are calculated.
"Recipient" - Grant or loan recipient.
"Residual Value of Project Materials" - As determined by the
				Department, the residual value will be the expected salvage value of project
				materials based on existing market values plus or minus the projected increase
				or decrease in value based on price trends.
"Salvage Value of Extracted Materials" - The expected salvage
				value of the materials which would be removed during a line rehabilitation and
				sold, either for scrap or reuse. Salvage value will be determined by the
				Department based on a survey of existing market prices.
"State Rail Plan Update" - The document published by the
				Department every two years which describes the LRSA program methodology. The
				plan is also used to establish project eligibility.
"Substitute Service" - Assistance designed to reduce the costs
				of lost rail service in a manner less expensive than continuing that rail
				service and includes (but is not limited to) the acquisition, construction, or
				improvement of facilities for the provision of substitute freight
				transportation services and/or the relocation of shippers.