Public-sector agencies such as port districts and local governments have another chance to apply for a portion of $5 million in Freight Rail Investment Bank (FRIB) loans approved by the Legislature. The Washington State Department of Transportation (WSDOT) has reopened the application period for loans until 5 p.m. Tuesday, Sept. 20. Funds will be available in July 2017.
The loan maximum is $250,000, but loans could be higher depending on the amount of qualifying applications. All applications require a 20 percent match.
The FRIB program helps freight-rail systems that create family-wage jobs as well as improve overall freight mobility. The application period was reopened after no applications were received earlier this year. Only FRIB applications are being accepted; the application period for Freight Rail Assistance Program grants remains closed.
Projects selected for funding will best demonstrate how shipping by freight rail eases congestion on busy highways, reduces wear and tear on state roads, strengthens the state’s economy through domestic and international trade, and reduces greenhouse gas emissions.
$5M available; applications due to WSDOT by Sept. 20
Please see the Washington State Department of Transportation for original article.
