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[quote user="PNWRMNM"] From wanswheel What the proponents of the TCR have not made available to the public or anyone else, as far as I can determine, is any ridership, revenue, cost, etc. information.  Until that comes along, we will not know whether the project is sound.  Based on the outcomes of the California High Speed Rail Project, we should be at least modestly skeptical. end of quote I don't think there will be any public numbers. They are looking for sophisticated investors, probably in  $100 million increments. Even if they go for RRIF money, I think there is a provision to keep proprietary financial date private. Just don't hold your breath is all I am saying. Mac [/quote] As per RRIF money, here is brief statement from the FRA re: the program: "Eligible borrowers include railroads, state and local governments, government-sponsored authorities and corporations, joint ventures that include at least one railroad, and limited option freight shippers who intend to construct a new rail connection."  The TCR does not appear to meet any of these criteria. To day, with the exception of Amtrak and the Mount Hood Railroad, all of the RRIF monies have gone to freight carriers. This language is taken from the FRA Final Application Checklist: "Upon acceptance of the Final Application, FRA will conduct the review process, which includes: financial analysis by an Independent Financial Advisor (IFA), a legal review, recommendation to the FRA by the Department Of Transportation’s Credit Council, negotiation of loan agreement and any associated security documents and opinions, approval of the Credit Risk Premium by the Office of Management and Budget and approval by the FRA Administrator." The application requires amongst other things audited proforma financial statements, as well as audited financial statements from an on-going entity, i.e. Amtrak, Kansas City Southern, etc. detailing the financial benefits anticipated from the project. It also requires a market study, amongst other documents, a benefits statement, etc. None of the language says anything about not disclosing the application for a RRIF improvement loan.If nothing else, I suspect one could get a copy of the application under the Freedom of Information Act.
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