[Federal Register Volume 59, Number 184 (Friday, September 23, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-23567]


[[Page Unknown]]

[Federal Register: September 23, 1994]


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DEPARTMENT OF TRANSPORTATION
Federal Railroad Administration

 

Innovative Financing Request for Assistance

AGENCY: Federal Railroad Administration; Department of Transportation.

ACTION: Notice.

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SUMMARY: The Federal Railroad Administration is requesting assistance 
in identifying: (1) Projects for inclusion in the Department of 
Transportation's innovative infrastructure financing initiative and (2) 
modifications to ISTEA.

ADDRESSES: Responses should be sent to Sally Hill Cooper, Associate 
Administrator for Policy and Program Development, Federal Railroad 
Administration, 400 Seventh Street, SW., Room 8300, Washington, D.C. 
20590.

FOR FURTHER INFORMATION CONTACT: Tom Hartman (202) 366-0177 or Sally 
Hill Cooper (202) 366-0173.

SUPPLEMENTARY INFORMATION: Executive Order 12893 ``Principles for 
Federal Infrastructure Investments,'' signed by the President on 
January 26, 1994, signals the importance the Administration places on 
investment in transportation. The Intermodal Surface Transportation 
Efficiency Act of 1991 (ISTEA) offers increased flexibility through new 
planning requirements and funding opportunities so that states and 
metropolitan planning organizations (MPO) can create a more integrated, 
environmentally sensitive, intermodal transportation network. In 
response to this new flexibility, but cognizant of continuing federal 
budget constraints, the Secretary established an infrastructure 
financing task force. This group is exploring innovative financing 
techniques that promote private-public partnerships, effectively 
leverage limited public dollars, apply creative solutions to 
infrastructure needs, and increase state and local use of the 
flexibility given to them under ISTEA.
    As part of this effort, the Federal Railroad Administration (FRA) 
conducted a roundtable with industry representatives and discussed 
infrastructure financing. We are now working to identify selected state 
and locally supported rail and rail-related projects that have 
potential for funding under ISTEA, but are currently stalled. As we 
move toward reauthorization of ISTEA, we are also soliciting ideas on 
potential changes to ISTEA that would facilitate rail-related projects 
having significant public benefits.
    There are additional components to the Department's infrastructure 
financing effort of which FRA is a part. As published in the Federal 
Register on April 8, 1994 (59 FR 16889), the Federal Highway 
Administration (FHWA) established an Innovative Financing--Test and 
Evaluation Project (TE-045) to increase the flexibility of ISTEA by 
identifying projects that ``develop innovative financing concepts which 
hold the most potential to increase investment or reduce public agency 
costs.'' Projects are being identified that exhibit some type of 
private-public partnership, provide creative applications of ISTEA to 
address congestion, intermodal, or environmental issues, have positive 
economic benefits, and strong local and state support. The Federal 
Transit Administration (FTA) has established a similar program and, as 
published in the Federal Register on September 12, 1994 (59 FR 46878), 
is seeking input on methods to facilitate public and private transit 
investment and assistance toward identifying specific local transit 
projects that apply innovative financing techniques. FRA is working 
with both FHWA and FTA to coordinate efforts and identify projects with 
rail components.
    Specifically, the FRA is requesting assistance and comments in the 
following areas:
    1. Identifying selected rail related projects that demonstrate some 
form of innovative financing and are ISTEA qualified but are stalled 
due to regulatory or administrative obstacles or lack of appropriate 
financing;
    2. Identifying current obstacles or impediments to the current use 
of ISTEA funds for rail related projects;
    3. Identifying appropriate applications for public funding and 
partnerships with the private sector;
    4. Identifying the applicability (effectiveness) of the current 
transportation planning requirements to multi-state rail projects; and
    5. Suggesting modifications to ISTEA to enhance rail's contribution 
and relevancy to a more integrated, environmentally sensitive, 
intermodal transportation system.
    Projects submitted should at a minimum provide a brief description 
of the project, cost and funding committed, project status, 
environmental implications, local/state support and the possible 
innovative financing aspect of the proposal. Project submissions should 
be submitted to FRA, if possible, by October 31, 1994.
    Comments regarding modification and applicability of ISTEA to the 
rail industry are requested, if possible, by November 15, 1994.

    Issued in Washington, D.C. on September 19, 1994.
Jolene M. Molitoris,
Federal Railroad Administrator.
[FR Doc. 94-23567 Filed 9-22-94; 8:45 am]
BILLING CODE 4910-06-P