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The Build America Bureau of the U.S. Department of Transportation (USDOT) has extended to Aug. 15 the deadline for submitting letters of interest in financing through the pilot Railroad Rehabilitation and Improvement Financing Express (RRIF Express) loan program.
The deadline was extended by 60 days due to the impact of the COVID-19 public health crisis, according to a USDOT notice published last week in the Federal Register. The original deadline was June 15.
Administered by the Build America Bureau, RRIF Express is a pilot program meant to increase access to RRIF loans for short lines and regionals seeking financing for infrastructure projects, according to the American Short Line and Regional Railroad Association. The application process is designed to be less time consuming and cost prohibitive for small railroads.