Financing Freight Improvements - FHWA Operations

Financing Freight Improvements Table of Contents

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Financing Freight Improvements Table of Contents

Table of Contents

1.0 Introduction ............................................................................... 1 Freight Transportation Needs ..................................................... 2 The Role of the Public Sector in Financing Freight Improvements. 5

2.0 Funding and Financing Tools for Freight Investments......... 7 The Federal-Aid Highway System and Federal-Aid Programs... 8 Federal Highway Funding Programs .......................................... 9 Federal Financing Tools ............................................................. 26 State Grant and Loan Programs for Freight Improvements ....... 33 Other Funding Methods and Financing Tools............................. 49

3.0 Case Studies of Freight Financing.......................................... 59 Arkansas ..................................................................................... 59 California ..................................................................................... 67 Colorado...................................................................................... 72 Delaware ..................................................................................... 74 Florida ......................................................................................... 75 Illinois .......................................................................................... 76 Indiana ........................................................................................ 85 Iowa ........................................................................................... 87 Kansas ........................................................................................ 88 Kentucky ..................................................................................... 89 Louisiana..................................................................................... 90 Maine .......................................................................................... 93 Michigan...................................................................................... 97 Missouri-Kansas.......................................................................... 98 North Carolina ............................................................................. 100 Nevada........................................................................................ 101 New York..................................................................................... 103 New Jersey ................................................................................. 108 Ohio ........................................................................................... 110 Oregon ........................................................................................ 113 Pennsylvania............................................................................... 116 Rhode Island ............................................................................... 118 South Carolina ............................................................................ 119 Tennessee .................................................................................. 122 Texas .......................................................................................... 123 Virginia-West Virginia-Ohio......................................................... 126 Washington ................................................................................. 128 Wisconsin.................................................................................... 133

4.0 References................................................................................. 137 Federal Funding Programs ......................................................... 137 Federal Financing Tools ............................................................. 138 State Grant and Loan Programs for Freight Improvements ....... 138 Case Studies............................................................................... 140 Other Resources ......................................................................... 141

Glossary of Terms.............................................................................. 143

Acronyms............................................................................................ 153

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Financing Freight Improvements Introduction

List of Tables

2.1 Federal Funding Programs ....................................................... 23 2.2 Federal Financing Tools ........................................................... 31 2.3 Illustrative State Grant and Loan Programs ........................... 34 3.1 Case Studies by Project Type .................................................. 61 3.2 Case Studies by Funding Type/Project Size........................... 63

List of Figures

1.1 2020 Freight Shipments by Mode............................................. 2 2.1 Public-Private Partnership Options ......................................... 54

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Financing Freight Improvements Introduction

1.0 Introduction

The Federal Highway Administration's (FHWA) Office of Freight Management and Operations and Office of Planning developed this guidebook as a resource for FHWA, states, metropolitan planning organizations (MPOs), and other parties involved in the identification of freight needs, development of financing plans to fund projects designed to address these needs, and involved in the actual delivery of an eligible project.

This guidebook is composed of four sections:

1. Funding and Financing Tools for Freight Improvements ? This section describes existing federal funding programs and financing tools that could be considered for funding freight improvements. In addition, this section provides an overview of several programs available through the States that have been created to support the increasing need for the public sector to invest in freight-related infrastructure as a way of promoting economic development and addressing multimodal transportation issues.

2. Case Studies of Freight Financing ? Each freight project and the approach to funding various freight projects is unique. Valuable information can be gleaned from investigations into the way that a variety of intermodal freight facility projects have been funded. Obviously, larger, more complex projects require more intricate financial planning and tend to require a wide array of funding instruments in delivery of the project. For this reason, this section provides brief summaries of how various types of freight-related projects were financed.

3. References ? Acknowledging that a significant amount of information is readily available to assist in developing funding strategies for freight projects, additional resources beyond the scope of this guidebook can assist in development of a reasonable project financing plan. This section provides links to such freight financing resources, including additional information on federal and state funding and financing programs.

4. Glossary of Terms and List of Acronyms ? This section provides descriptions for the various funding categories and terms used in

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