nod
Comments regarding purchase of the Eastside rail line  November 3, 2009    Buitaaw 

The Port of Seattle's purchase of BNSF's Eastside rail line is of vital importance      to UO[SSlLULU03
to the economy of King County. During these difficult times, the impact of the
g3
purchase cost of the line needs to be minimized.
2 mm
Sound Transit's report on the Eastside rail line to the Puget Sound Regional
Council stated that a commuter rail service on the line would move up to 6,000
passengers a day, % of the current ridership on Sounder's south line. This would
be a major contribution to mobility for area residents.

During periods of bad weather, when rail service to the north of Seattle is blocked
by landslides and service south is stopped by flooding, the Eastside rail line is
the only route available to move double stack container trains and receive aircraft
fuselages. Freight mobility is a necessity for the region's economy.

While talking with a Sound Transit board member about the need for an
extension of the time period of Sound Transit 2's $50 million contribution for east
side rail service, the board member mentioned that he and another board
member favored using the money to partner with the Port in the purchase of the
BNSF Eastside corridor. in similar conversation, an acquaintance discovered
that a third board member favored Sound Transit's outright purchase of the rail
line.

To preserve the Eastside line's local freight potential and emergency through
freight capability, l hope the Port will maintain at least partial ownership of the
line. Currently, to help with the preservation of rail services, the Federal Railroad
Administration offers extremely low interest loans. Locally, GNP Railway's loan
application to rehabilitate the Eastside track has been given the status of
"Complete". If the Port chooses to partner with Sound Transit with the purchase
of BNSF's Eastside line, a Federal loan to cover the Ports portion of the cost
would obligate a relatively small yearly payment.

Included is Sound Transit's summary of its report to the PSRC, a copy of the
FRA's explanation of its rail loans and a copy of the loan application. I hope the
Port of Seattle will take advantage of the help available for the purchase of
BNSF's Eastside rail line.

Thank you,
Robert Scheuerman
3215 N 8"" St.
Tacoma, WA 98406
Rochescha'xggcom


Hi U'r'ii'ir' 200'?)                                                             Egoonot'eaasrr        tired i        rv-     JrAl'il
L?
more we were     Eightif"
Bariington Northern Santa Fe (BNSF) Eastside (:orridor
Commoter Raii Feasibility Study
Background
in 2008, the state iegislature directed Sound Transit and the Puget Sound    corridor also includes a 7-mile spur from Woodinviile to Redmond. it
Regional Council {PSRQ to complete a feasibiiity study to "determine   inciudes 24 bridge crossings, 97 curves and 107 atgrade crossings,
whethercommuter rail service between eastern Snohomish Countyand
The Port of Seattle intends to purchase the corridor from BNSF in early
eastern King County
... can be a meaningful component of the region's
future transportation system." The study also developed a cost estimate   2009.1(ing Coontythen intends to acquire an easement along a portion
of the corridor for a bicycle and pedestrian trail,
for a paraliei passenger rail and bicycieipedestrian trait.
Potential future uses or" the corridor, or certain segments, may inciude
ihe BNSF Railway Company Eastside Corridor runs 34 miles from north
Renton, through Sellevue and Woodinville, and on to Snohomish. The   passenger rail, excursion trains, short haui freight service, and a regional
traii.

Study findings:
..  Operating passenger/commuterraaiionthe corridoriisfeasihie but
significant capitalrimprovements are needed to achieve hiigher
speeds and improve the safety of the track, structures, and roadway
crossings.
e  The corridor has the potential forsigniiicant transit ridership connecting
the regional growth centers of Renton, Believue, Kirklandfiotem
take and Redmond, with as many as 6,000 trips per day.
t  The capitai cost estimate for passenger raii is within the range for
other lines in the US. However, the costs are at the high end of that
range because of the condition of the corridor and its current iack
of safety and communication systems.

A pedestrian/hike trail could fit within the existing right~oi~way
throughout much of the corridor in some locations, property
acquisition wouid be needed.
a  The estimated capital cost fora fuily improved pedestrianioike trail
South Woodinville
i
South WoodinvillegE         (Redmond spur "'18).                   parallei to the rail tine ranges from $297 million to $432 million,
(Snohomish-Renton line)                                   depending on the width of the trail.
3                          W
'= we"
,          i  1
Totem Lake            2":                     *
J'   I}                   The capital cost of passenger rail on the entire corridor is estimated
Q  r or i3
i/   1                 at between Sit} and $1.3 biilion.
is;                  "a,      i     Ls

Kirkland/NE 
BNSF Eastside Corridor
85th Street '~
(N. Renton to Snohomish & Redmond Spur)
~  South Kirkland K

'
ParK&Ride  Existing Rail Lines - Possible Stations

3  Redmond Spur Line

Bellevue/NE                               9
"MCBeilevue/NE                 SnohomishRenton Line
12th Street            6th Street               New BNSF Eastside Corridor Under Study

51:37 '3t;ii:i:;i            Black River Junction to Gene Coulon Park

i
WSounder Commuter Rail
2
Believue/Newport        (/1  +Hli Other Regional Rail Lines
112th or?              it
Urban Growth Area
Ramon/Port
QuendalI-NE                                 City Limits
44m Street
0    15   3        G        9
Minimum;
Roofon/Gene 
Coglon Park
Burlington Northern Santa Fe (BNSF)
Eastside Corridor

on sa
Burlington Northern Santa Fe (BNSF) Eastside Corridor crossing l-90 south of downtown Bellevue

$easibility study assumptions
estimates include broad assumptions for track and
trackbed, rail
The feasibility study builds                                 bridges, signals/train control/crossings, stations and right-oiway;
on previous studies of
passenger or
commuter rail on the corridor and used the                    and soft costs such as administration,
foliowing general                                 design and environmental
assumptions:                                      review and construction management. The
cost estimates include
significant contingencies based on the conceptual level of analysis.
Upgrades were identified and costs were estimated
at permanent   it is possible that passenger rail could be
implemented in a different
passenger rail infrastructure standards including toll replacement
manner with a possible lower cost, but the costs in this
of the track, ties and rail bed                                                                    report were
{a demonstration project or project   estimated using methods developed by Sound Transit for its
Sound
implemented by private entities could be accomplished differently
Transit 2 i'lan and approved by
an independent review panel
with potentially lower costs)
Operating costs
Either diesel locomotives with bi~level coaches
(Sounder-type
vehicles} or diesel multiple units (DMUs) could be used           Operating costs are estimated at $24 to $32 million
_ per year based
on twoway service on the corridor with trains
*  {empiete signal/communication for train detection and control                                              operating every 30
minutes in each direction, l6 hours
per day weekdays, along with
along with centralized train control were provided              track and vehicle maintenance costs.
~  All public and private grade crossings
were upgraded          Sound Transit 2

' No new gradeseparated crossings
were included             Sound Transit 2, the mass transit package
approved by voters in
*  The condition of all 24 existing bridges                             November 2008, includes a $50 million capital contribution
was not evaluated                                             to a
potential passenger rail partnership. it a partnership is not in place
8  One small yard and shops facility is needed
by the end of 201 l, the funds will be re-directed to HOV/bus rapid
'  The train speed, including stops, would                          transit in the L405 corridor. Sound Transit 2 does not include
average 24 mph                                            any
additional funds for commuter
or passenger rail on the Eastside
'  Service would run two ways for l6 hours
a day on weekdays. Trains   BNSF corridor. For more information about the Sound Transit 2 Plan
would run every 30 minutes                         and requirements related to the $50 million
capital contribution,
The study did not identify                                please refer to the Sound Transit Web site at: http://iuture,
an optimal solution, preferred alternative,
or the lowest cost or most cost-effective
option. That information      soundtransit.org!documents/ST2_Planmwebipdf,
would be developed in the future by
an agency or group proposing
passenger rail on the corridor.
Capital Costs
W
The capital costs for passenger rail                            id" SoonoTnAnsrr
on the entire corridor are
estimated at $1.0 to El .3 billion (in 200%).                                  BEBE THE WAVE 
The capital cost

FEDERAL RAILROAD ADMINISTRATION : PASSENGER RAIL           Page 1 of I

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The Railroad Rehabilitation F: Improvement Financing (RRIF) Program provides direct federal loans and loan
guarantees to finance development of railroad infrastructure.

RRIF PROGRAM OVERVIEW
APPLICATION INFORMATION
QUICK LINKS TO DOCUMENTS
CONTACT INFORMATION

RRIF PROGRAM OVERVIEW L03

The RRIF program was established by the Transportation Equity Act for the 21st Century (TEA-21) and amended by
the Safe Accountable, Flexible and Efficient Transportation Equity Act:
a Legacy for Users (SAFETEA-LU]. Under this
program the FRA Administrator is authorized to provide direct loans and loan guarantees up to $35.0 billion. Up to
$7.0 billion is reserved for projects benefiting freight railroads other than Class | carriers.

The funding may be used to:

e Acquire, improve, or rehabilitate intermodal or rail equipment or facilities, including track, components of
track, bridges, yards, buildings and shops;
a Refinance outstanding debt incurred for the purposes listed above; and

n Develop or establish new intermodal or railroad facilities

Direct loans can fund Up to 100% of a railroad project with repayment periods of up to 35
years and interest rates
equal to the cost of borrowing to the government.

Eligible borrowers include railroads, state and local governments, governmentsponsored authorities and
corporations, joint ventures that include at least one railroad, and limited option freight shippers who intend to
construct a new rail connection.

Loan agreements have been executed with the following railroads:

ORGANIZATION                      AMOUNT
Iowa Interstate Railroad                2008  531.0 million

Nashville and Eastern Railroad             2008  $4.6 million

Columbia Basin Railroad                2008  $3.0 million

Great Western Railway                 2007  $4.0 million
Virginia Railway Express                2007  572.5 million
R.J. Corman Railway                  2007  559 million
Dakota, Minnesota & Eastern Railroad         2007  $48 million
Iowa Northern Railroad                 2006  525.5 million
Wheeling & Lake Erie Railway             2W6  $14 million
Iowa Interstate Railroad                2006  $9.35 million

Great Smoky Mountains Railroad           2005  $7.5 million
Riverport Railroad                   2005  $5.5 million
The Montreal, Maine E: Atlantic Railway       2005  $34 million

Tex-Mex Railroad                    2005  $50 million

Iowa Interstate Railroad                2005  532.7 million

Stillwater Central Railroad               2004  $4.6 million
Wheeling E Lake Erie Railway             2004  $25 million
Arkansas & Missouri Railroad              2003  $11 million

Nashville and Western Railroad            2003  $2.3 million
Dakota, Minnesota Et Eastern Railroad        2003  $233 million
Amtrak                         2002  SICK) million

Mount Hood Railroad                  2002  $2.07 million

APPLICATION INFORMATION m

Timing

The Federal Railroad Administration (FRA) will approve or disapprove a request for a loan within 90 days after
receipt of a complete application. Appl'cations will be deemed complete after the following:

(1 i The FRA has fulfilled is obligations under the National Environmental Policy Act (NEPA) and related laws,
regulations and orders. In many cases, the FRA will need simply to approve a short environmental form submitted
with the application. However, in some cases, compliance with NEPA may require preparation of detailed
environmental assessments, consultation with Federal and State authorities, publication of documents, and public
review and comment on these documents.

(2) The FRA has completed its initial review of the application (not to exceed 30 days) and, if additional
information and/or clarification have been requested, the applicant has provided the requested information.

Note: Since a great variety of projects are eligible to be funded under the RRIF Program, it is impossible to
anticipate all the information that will be necessary to evaluate a project for which funding is requested, or the
level of detail that will be provided by an applicant. Therefore, a short period of time will be
necessary to review
applications and determine if there is a need for additional information.




http://www.fra.d'ot.gov/us/printcontent/1 770                                   1 1/3/2009

FEDERAL RAILROAD ADMINISTRATION
: PASSENGER RAIL
Page 1 of 1

O FEES

All federal nancial assistance
programs must pay for the cost to the government of providing that
nancial assistance. In most cases this is done with appropriations from Congress Since the RRiF
Program does not currently have an appropriation, this cost
must be borne by the applicant, or another
entity on behalf of the applicant, through the payment of the Credit Risk Premium.
The Administrator
will calculate the amount of the Credit Risk Premium that
must be paid for each loan before it can be
disbursed

In addition to the Credit Risk Premium, which is paid only if a loan
is approved, each applicant must
pay an Investigation Fee regardless of whether the loan is approved. The Investigation Fee defrays
costs the FRA incurs in evaluating RRIF loan applications. The
investigation Fee may not exceed one
half of one percent of the requested loan
amount, but it is often substantially less.

Preliminary Meeting information

Application Form (MS Word)

QUICK LINKS TO DOCUMENTS m

RRIF Application Form (MS Word)

RRIF Statute (45 USC  822)

RRIF Statute (45 USC  823)

RRIF Regulations (49 CFR  260)

FRA Categorical Exclusion Worksheet for complance with
environmental regulations.(ivls Word)
(This form can also be accessed via a link from the online application form
.) Also available is guidance
on completing a Categorical Exclusion Worksheet.

FRA Environmental Regulations (PDF)
(This information can also be accessed via a link from the online application form.)

Summaiy of FRA's substantive criteria for reviewing RRIF loan applications

FRA press releases, including those related to RRIF

CONTACT INFORMATION TOP

if you have questions about the
program, or if you wish to discuss the possibility of funding your
project with a loan or a loan guamntee under the RRIF Program,
you can contact the Ofce of Railroad
Development.

Telephone: (202) 493-6340
Fax: (202) 493-6330
Email: innovative Finance Division

Applications and other correspondence may be sent to:

Federal Railroad Administration
Ofce of Railroad Development  Innovative Finance Division
RDV"12, Room W36-320
1200 New Jersey Ave. 5.6., Washington, DC 20590

PLEASE NOTE: LETTERS AND PACKAGES SENT TO FEDERAL BUILDINGS
ARE SUBSTANTIALLY DELAYED
BECAUSE OF SECURITY SCREENING. USE OF A PRIVATE CARRIER SUCH
AS UPS, FEDEX, DHL, ETC. IS
STRONGLY RECOMMENDED.

Staff List for ERA innovative Finance Divrsuon

Passenger Rail  Fmancral Assistance

About Us | Safety | Freight Railroading | Passenger Rail [ Press Room l Legislation
Regulations & Litigation ] Site index | Privacy Policy | FOLA ] Jobs l Press Releases | Home

Federal Railroad Administration, Us Department of
Transportation, 1200 New Jersey Avenue, SE, Washington, DC 20590







http://www.fra.dotgov/us/printcontent/1770                                1 1/3/2009

FEDERAL RAILROAD ADMINISTRATION
Railroad Rehabilitation and Improvement Financing Program
Loan Application

Applicant:

Amount of loan request:

Date:

Please use this form as your Railroad Rehabilitation and Improvement Financing (RRIF) Program
loan application. It will provide the Federal Railroad Administration (FRA) with the basic
information necessary to begin processing your application. The information requested in this
form is the same as that required in 49 CFR Part 260, the RRIF implementing regulation. The
related section of the regulation is identied for each item.
IMPORTANT: The Federal Railroad Administration (FRA) will be approved or disapproved a requestfor a loan within 90 days after receipt of a complete application. Applications will be deemed complete
after:

1) The FRA has fullled its obligations under the National Environmental Policy Act (NEPA)
and related laws, regulations and orders.

Note: Compliance with NEPA may require preparation of detailed environmental
assessments, consultation with Federal and State authorities, publication of
documents, and public review and comment on these documents. In order to
expedite the application review process, applicants may submit responses
to item 20 below, in advance of ling an application.

2) The FRA has reviewed the application and, if additional information and/or clarication has
been requested, the applicant has provided the requested information. This initial review of
an application by FRA will not exceed 30 days.

Note: Since a great variety of projects are eligible to be funded under the RIP Program, it
is impossible to anticipate all the information that will be necessary to evaluate a
project for which funding is requested, or the level of detail that will be provided by
an applicant. Therefore, a short period of time will be necessary to review
applications and determine if there is a need for additional information.

Railroad Rehabilitation and Improvement Financing
Program
Loan Application

1. Applicant Identication [260.23(a)]

Provide the full and correct
name and principal business address of the Applicant in the
spaces
below:

Legal entity name:

Address 1:

Address 2:

City:

State:        Zip:


2. Incorporation Status [260.23(b)]

Provide information on the nature of the applicant's organizational
structure in the spaces below.

Date of incorporation:

Place of incorporation:

Provide a list of Applicant's
owners with the percentage of ownership of each (disregard if the
Applicant's stock is publicly traded), as Attachment 2a.

Provide a list of afliated companies, including subsidiaries,
parent, companies sharing
common ownership, or other related companies, describing the nature of the
relationship, as
Attachment 2b.

If the Applicant is not a corporation, provide
a brief description either:
El As Attachment 20  Description of Organization,
or
'3 Below

Railroad Rehabilitation and Improvement Financing Program
Loan Application

3. Contact Information [260.23(c)]

Provide contact information in the spaces below of the person with whom FRA
may
communicate
regarding the application.

Name:

Title:

Address 1:

Address 2:

City:

State:
__ Zip:

Phone:

FAX:

Email:

4. Other Participant(s) in Loan Application (if any) [260.23(d)]

Does the project involves another railroad or other participant, through joint execution,
coordination, or otherwise?

D No other participants

[:I Yes

If yes, please describe the relationship between the Applicant and such other railroad
or
participant in the project, including nancial statements (if applicable) and nancing
arrangements, portion of the work to be perfomied by each participant, and anticipated level of
usage of the equipment or facility of each participant when the work is completed.

Other participant description is provided:

D As Attachment 4  Description of Other Participants: or

[:1 Below

Railroad Rehabilitation and Improvement Financing Program
Loan Application


5.  Executive Summary

Provide 2. separate executive summary of the application, outlining the
project and the recent
trafc volumes moved and gross and net revenues,
as Attachment 5  Executive Summary.

6. Project Description [260.23(e)(l)]

Provide, as Attachment 6a - Project Description,
0  a detailed description of the amount and timing of the requested nancial
assistance,
0  the purpose or purposes of the requested nancial assistance,

0  itemized summaries, by location, of each work activity, the material quantities for
each,
and the corresponding cost estimates for labor and material (shown
separately), and
a  unit costs and assumptions used as a basis for the cost estimates.

Presenting information in a table format is desirable, but any well-organized and easily
readable format is acceptable, provided the
necessary information is included.

Track work for sidings and yards should be shown
on separate lines from that done on main
tracks, and subtotals provided when useful: as for main, sidings, yard 
or for totaling work
shown on individual tracks in a yard
or in separate spans of a bridge. For rail replacement,
weight of existing rail in the segment should be shown, and with that table, assumption for
salvage value or explanation of other disposition (as: relay in another location).

For projects that include major rehabilitation, upgrade, relocation,
or construction of any
infrastructure, provide drawings and/or illustrations adequate to permit
an independent review
of cost estimates as Attachment 6b  Drawings/Photographs. This would include work such as
rehabilitation or construction of buildings, bridges, yards and terminal facilities;
power, water,
fueling, environmental mitigation, and signal systems; major earthwork
or drainage work; and
roadbed stabilization. Photographs of the site or existing structures are often helpful as well.
Also, provide documentation ofhow the cost estimate
was developed (e. g., applicant's
experience, estimates by qualied engineers, proposals by rms to undertake the work, etc.)

Railroad Rehabilitation and improvement Financing Program
Loan Application

Also, using the space below check all that apply and enter approximate cost and loan
request.

Project Elements                Total Cost  Loan Reguest

El Line or company acquisition          $ $

E] Line rehabilitation or upgrade          $ $

D Bridge rehabilitation or upgrade         $ $

E] Rail Equipment acquisition

D Locomotive               $ $
__
El Rail cars                     33         $
_
El Other                     35        $
__
E] Equipment rehabilitation             $ $
__
I:! Other facility acquisition or upgrade

E] MOE shop                33

I: Storage                     33

D Ofce                 $

D Other:                    $

[:| Renancing (see below)             35         6969696969

|:] Other: Please describe:

Total
,                                                   $ $

For each existing debt that you Wish to renance provide,
as Attachment 6c  Renancing:
0  copy of the documentation for the original loan

0  original loan date

Q  original lender

6  original loan amount

O  original purpose, and

0  remaining balance

Railroad Rehabilitation and Improvement Financing Program
Loan Application

7. Project Purpose [260.23(e)(1)]

Describe the project purpose:

|:I Using Attachment 7  Project Purpose, or

[3 Using the summary outline below.

Please check each category that applies and provide a brief narrative description of the
applicant's Views on how the proposed project aligns with these areas of interest.

I: Enhance public safety

El Promote economic development

I: Enhance international competitiveness of US. companies

D Preserve or enhance rail service to small communities or rural areas

[3 Increase rail trafc

[:I Reduce operating costs

D Permit use of higher load rail cars

D Other (describe below)


8. Description of Affected Facilities and Equipment [260.23(e)(2)]

Provide a description of facilities and equipment affected directly or indirectly by this project
and their current physical condition:

D As Attachment 7 - Description of Affected Facilities or Equipment, or

l:| Below

Railroad Rehabilitation and Improvement Financing Program
Loan Application


9. Project Components and Schedule for Completion [260.23(e)(3)]

Describe each component into which the project may reasonably be divided.

El Not applicable; project is not subdivided into components

D As Attachment 9 - Project Components, or

El In the table below
j
Project Component             Cost
@000)

Railroad Rehabilitation and Improvement Financing Program
Loan Application

10. Project Timing [260.23(e)(4)]

Provide commencement and completion dates and estimated timing of the expenditure of the
proceeds of the nancial assistance being requested for the overall project and by project
component

Project Planned Commencement Date:

Project Planned Completion Date:

Expenditure Schedule is provided:

El As Attachment 10  Expenditure Schedule, or

E] In table below
F Project Component Expenditure Amount T Beginning/Ending Dates
($000)
L

Railroad Rehabilitation and Improvement Financing Program
Loan Application

11. Railroad and Project Map [260.23(e)(5)]

Provide a map of the existing railroad (even if the project is not line-related) with location of
project indicated, if appropriate.

A railroad map is provided:

D As Attachment ll - Railroad and Project Map, or

D Below


12. Collateral Description [260.23(f)]

List and describe the collateral offered to secure the nancial assistance sought and provide its
liquidation value. Include the assets to be acquired, rehabilitated, or improved with the
proceeds of the loan requested.

If a general mortgage on the entire business is being offered, provide the going
concern value
of the business.

wCollateral description is provided:

D As Attachment 12
3          Collateral Description, or
[3 Below

Collateral Description                Net           Basis of
Liquidation       Valuation"
L                                   Value ($000)


*lndicate "Basis of Valuation" as follows:
A = Independent Appraisal
B = Applicant's Estimate
C = Current Replacement Cost
D = Other (Describe Here: )

Railroad Rehabilitation and
Improvement Financing Program
Loan Application


13. Financial Claims Involving
the U.S. Government
[260.23(g)( 1)]
Describe any claims against the
Applicant, or any afliated
corporate entity, by the US.
.   and any claims by the
,                            Applicant against the US.

[:l None
Claims involving the US.
Government are listed:
I   I As Attachment 13 Claims
Involving the US. Government,
or
D Below


14. Debits and Credits with the
US. Government
[260.23(g)(2)]
Describe all outstanding debits
(e.g., loans) or credits with the US.
accounts receivable need not be                        government (routine
listed)
D None

[:I Described in Attachment
l4 - Debits and Credits
Involving the US. Government,
or
E] Below






10

Railroad Rehabilitation and Improvement Financing Program
Loan Application

15. Market Analysis [260.23(h)(1)]

To the extent such information is available, provide all market
analyses and studies that have
been
performed to determine
0  present and future demand for the rail services or facilities involved in the project,

a  whether the nancing is justied by present and future probable demand for rail
services
or facilities,

a  whether the project will meet existing needs for such services
or facilities, and
a  whether the project will provide shippers
or passengers with improved service.
I] No supporting market analyses available

[3 Analyses provided as Attachment 15 - Market Analyses, or

[j Below

16. Trafc [260.23(h)(2)]

33' Provide historic levels of trafc moved by Applicant for the
past ve years, by commodity. If
the Applicant has not owned the property for the ve
,
years, please provide trafc levels of
"3!?       prior owner.  Also, provide a discussion and appropriate analysis that demonstrates the
7     projected level of trafc can be accommodated on the applicant's system
as proposed,
including connections to other carriers.

[:I Provided as Attachment 16a - Trafc, or

E] In table below
r
Commodity     Current      Current Year      Current Year      Current Year      Current Year
Minus 1
F_                         Minus 2
|_            Minus 3       Minus 4
"l
ltem l
Originated
Terminated
l
Overhead
Local
l

Item 2
lo 
riginated
Terminated
Overhead
L Local

ll

Railroad Rehabilitation and Improvement Financing
Program
Loan Application

Describe the impact of the project
upon the projected freight or passenger trafc to be
originated, terminated, or carried by the Applicant for the next ve
years, including
assumptions and justications for projected changes.

Data and information regarding the trafc impact:

El Provided as Attachment 16b  Trafc Impact,
or
[:I In table below

[Commodity Current Current Year
,      Current Year          Current Year          Current Year
Plus 1                  Plus 2                 Plus 3                  Plus 4
1_

Item 1
Originated                               l              T
Terminated
Overhead
'_L0cal        T 
i                 T
Item 2 '
lOriginated 
Terminated
Overhead                            l
Local
L

Please explain the bases for the above projections,
including a list of assumptions made and
description of the data used in establishing those assumptions.


17. Cost Savings and Other Benets [260.23(h)(4)]

Describe the cost savings or any other benet to the applicant that would
accrue from the
project.

El Provided as Attachment 17  Cost Savi_ngs and Other Benets,
or
E] Below


12

Railroad Rehabilitation and Improvement Financing Program
Loan Application


18.  Safety Improvements [260236)]

Provide a statement as to how the project will contribute to,
or enhance, the safe operation of
the railroad (consider effects on employees,
passengers, and facilities).
D Provided as Attachment 18 - SafetLlrnprovements, or

D Below

Provide a list of violations of FRA safety standards cited by FRA
or State inspectors over the
preceding 5 years and how these Violations have been addressed.

19. Description of Applicant's Maintenance Program [260236)]

Describe the your maintenance program for your entire rail system and planned maintenance
program for the equipment or facilities nanced by the proceeds of the nancial assistance

I:] Provided as Attachment 19  Maintenance Program, or

El Below

Railroad Rehabilitation and Improvement Financing Program
Loan Application

20. Environmental Impacts [260230)]

Provide information relevant to the potential environmental impacts of the project in the
context of applicable Federal laws:
D If you believe your project has no potential for environmental impact and that it
should be categorically excluded from detailed environmental review (please
refer to section 4(c) of FRA's Procedures for Considering Environmental
Impacts [accessible from the RRIF home page on FRA's web site] for
additional information), the applicant should submit a completed FRA
Categorical Exclusion Worksheet as Attachment 20  Environmental 
Worksheet.

E] If you believe your project may have potential environmental impacts or for a
project that does not t into of the existing categories of excluded actions
(please refer to section 4(0) of FRA'S Procedures for Considering
Environmental Impacts [accessible from the RRIF home page on FRA's web
site] for additional information), you will need to consult with the FRA
environmental analysis staff to determine whether an Environmental
Assessment or an Environmental Impact Statement may be required for the
proposed project.

If you believe your project may have potentially significant environmental impacts, the
applicant should consult with FRA'S environmental analysis staff before submitting any
the
assessment of environmental impacts because of special requirements that apply to
preparation of environmental impact statements.

Note:                          has concluded that the proposed project meets
an application is not complete until FRA
FRA's obligations under NEPA and related laws, regulations and orders.


21. Financial Statements [260.25(b)(l)]

Provide, as Attachment 21  Financial Statements, Balance Sheets and Income Statements
Public
(audited if available, otherwise complied or reviewed by an independent Certied
has not
Accountant) for the past 4 full years of operation (or all that is available if applicant
been in operation for that period) and the current partial year up to the date of this application.
Also provide a statement of capital expenditures undertaken each year during that period.





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Railroad Rehabilitation and Improvement Financing
Program
Loan Application

22. Financial Projections [260.25(b)(2)]

Provide, as Attachment 22  Financial Projections, Balance Sheets, 'Income Statements
and
Cash Flow Statements projected for each of the
next 5 years, after giving effect to the savings
to be generated by the project to be funded with
proceeds of the funding requested in this
application. Also include a statement of yearly planned capital
expenditures for the next 5
years.

23. Credit Rating [260.23(n)]

D Applicant has a credit rating from
a nationally recognized rating
agency
Agency:

Rating:

Date:

Please attached as Attachment 23  Credit Rating

E] Applicant does not have a credit rating

Note: If you have a credit rating, skip items 24 and 25. If you do not have a credit rating, please
continne to complete the remaining items.

24. Business Plan [260.25(a)

Provide a statement describing
your current and prospective trafc base, by commodity,
major markets served and major interchange points and market development plans, if
any.
Please include a discussion of
your operating patterns and planned changes, planned maintain
of equipment and rights-ofway both before and after the
project, and any plans to rationalize
marginal or uneconomic service.

Also describe any anticipated changes in traffic volume
(both total and by commodity),
revenue per carload, shippers or the competitive environment in which
Applicant operates.
Provided:

D As Attachment 24 - Business Plan,
or
E] Below


15

Railroad Rehabilitation and Improvement Financing Program
Loan Application


25. Management Team [260.25(t)]

Provide a description of your management team, including the rail experience of the top
managers, management's plans for growth, and the your workforce.

Provided:

D As Attachment 25  ManagementTeam, or

Cl Below


Thank you for completing the RRIF Loan Application. Please be aware that after reviewing your
application, the Administrator may require that you submit additional information necessary to
complete the application [260.23(n)]. An analyst will contact you.

Date:                Submitted by:

Title:


Please submit the original application with four paper copies and a CD with the electronic version
of the Application and supporting documents and attachments. Your completed application
package should be sent by overnight delivery to:

RRIF Application
Federal Railroad Administration
Ofce of Innovative Finance (RDVl2)
Mailstop 20
1200 New Jersey Ave, SE.
Washington, DC. 20590



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