FRA officially awards RRIF loan to Oregon short line (9/26/2002)

It's official. Yesterday, the Federal Railroad Administration awarded a $2.07 million Railroad Rehabilitation and Improvement Financing (RRIF) loan to Mount Hood Railroad.

"While we continue to negotiate with other prospective applicants, I strongly encourage America's rail industry, particularly the American Short Line and Regional Railroad Association, to take the lead in helping to educate its members as to the value of the RRIF program," said FRA Administrator Allan Rutter in a prepared statement.

Mount Hood, which operates a 22-mile line from Hood River to Parkdale, Ore., provides both freight and scenic railroad services.

The short line plans to use the 25-year RRIF loan to rehabilitate track, purchase rail equipment, and refinance past debt from previous capital expenditures and equipment purchases.

Source: Progressive Railroading Daily News