Railroad Revolving Loan and Grant Program Brochure
FY2006 to present
The Railroad Revolving Loan and Grant (RRLG) Program is administered by the Office of Rail Transportation at the Iowa Department of Transportation. The program provides financial assistance to improve rail facilities that will create jobs, spur economic activity and improve the rail transportation system in Iowa in three separate categories:
- Targeted job creation. These rail projects are those that provide immediate, direct job opportunities. Loans and grants are available. Grant funding is contingent on job creation and retention commitments by the applicant and loans can supplement grants if the project cost exceeds that available in grant funding. A local match is required for both grants and loans.
- Rail network improvement. These rail projects are those that support existing rail lines and service or improve industrial access when no direct job creation is involved. Only loans are available in this category. Loans will be offered at zero percent for a 10-year term. Loan requests require a 20 percent matching contribution.
- Rail Port Planning and Development. Grants of up to $100,000 are available for planning studies that enable a community, county, or region to make fact-based decisions concerning the location, design or funding requirements for a rail port facility. The end result of a planning study should help decision makers evaluate rail development options that support industrial and business progress and economic growth in the community and region. Grant requests require a 20 percent matching contribution.
Industries, railroads, local governments or economic development agencies are eligible to apply.