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1/10/2012



Rail News: Passenger Rail

Alaska Railroad solicits public input on 2012 capital plans


The Alaska Railroad Corp. (ARRC) will hold public meetings later this month to solicit public comments on the railroad’s proposed capital improvement projects for 2012.

The railroad has budgeted $49 million for capital improvements during the year, with an additional $68 million budgeted for two rail extension projects, ARRC officials said in a prepared statement.

About $11.76 million will come from new Federal Transit Administration grants, which require a 9 percent matching contribution from ARRC. Other federal funding will include $1.26 million in Federal Emergency Management Agency-administered grants, $1.43 million from the Federal Railroad Administration and $295,000 from the U.S. Department of Homeland Security.

A $2.7 million settlement will cover deficit trackwork repairs originally paid by federal grants. In addition, ARRC will spend about $8 million in funds generated from the sale of revenue bonds sold in 2006 and 2007. ARRC will spend another $23.5 million on internally-funded capital projects with revenue from rider, freight and real estate revenue sources.

And, the state of Alaska appropriated funds during fiscal-year 2012 to support the first phase of the Northern Rail extension as well as the Port McKenzie Rail extension project.


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