January 6, 2011

Background $5 million revolving loan fund established by

the Idaho State Legislature in 2006

Transferred to ISDA in 2007

First loans were approved in December 2007

Three projects totaling $3.8 million have been funded or are currently approved

Current fund balance is $2.3 million. Funds available for loans is less

Purpose

To provide low interest loans for qualified rural projects for the development and preservation of intermodal rail and truck services and facilities

Title 49, Chapter 29, Idaho Code

Eligible Applicants Qualified lines

•Class III short lines•Branch lines of class I railroads leased or

operated by a class III railroad•Branch lines of class II railroads•Lines owned by public entities including

port districts and intermodal commerce authorities

Freight Shippers

Eligible Projects Rehabilitating, or improving railroad equipment

necessary to maintain essential rail service Purchasing or rehabilitating railroad equipment

necessary to maintain essential rail service Construction of loading or reloading facilities or

other capital improvement including building or improving local transportation infrastructure, to increase business and commerce, and to improve shipping service

Coordinating intermodal truck and rail traffic for integrated rural freight transportation

Approved Projects EIRR Pacific Ethanol Project – Burley, Idaho

• An upgrade to 1.2 miles of track along with six integral switches to support the new Pacific Ethanol plant in Burley. The upgrade replaced 70# rail that was in place since the railroad was built in 1911 with 100# rail or larger.

EIRR Minidoka Relay Project – Between Rupert & Minidoka, Idaho • An upgrade to sections of rail line between Rupert and

Minidoka that were 76 years old or more. Every car that links to the UP line must travel on this section, representing 68% or $9.2 million dollars.  

EIRR Northside Relay Project – West of Rupert, Idaho • An upgrade of a section of rail west of Rupert.

Maximum term not to exceed 15 years

No maximum loan size, loans are based on availability of revolving funds

Loan terms & interest rates • Up to 3 years: 2%• 3 to 8 years: 3%• 9 to 15 years: 4%

Loan funds cannot be used for operating costs

Loan up to 90% of total project costs

Sufficient collateral is required (letter of credit, first lien on assets, etc)

Applicant must have good standing in all Idaho obligations

No prepayment penalties

Statue specifies:As interest funds allow, authorize matching grants not to exceed one hundred thousand dollars ($100,000) per grant for planning and development of intermodal commerce authorities.

May be for the planning and development of either a new or existing Intermodal Commerce Authority

Application Process Obtain REDIFiT loan and grant information

and applications online at www.agri.idaho.gov

Submit full application and all documentation to ISDA according to quarterly deadlines:

February 11, 2011 May 13, 2011 August 12, 2011 November 10, 2011

•Grant applications: annual deadline: Last business day in May each year

Program Administration Administered by the Idaho State

Department of Agriculture (ISDA) in cooperation with the Interagency Working Group

Interagency Working Group is composed of 8 members:

4 Idaho Transportation Department 3 Idaho Department of Agriculture 1 Idaho Department of Commerce