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Article: FRA Administrator Denies DM&E Powder River Basin Loan Application Citing Unacceptable Risk to Federal Taxpayers.
- Article from:
- M2 Presswire
- Article date:
- February 27, 2007
CopyrightCOPYRIGHT 2007 M2 Communications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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M2 PRESSWIRE-27 February 2007-US DOT: FRA Administrator Denies DM&E Powder River Basin Loan Application Citing Unacceptable Risk to Federal Taxpayers(C)1994-2007 M2 COMMUNICATIONS LTD
RDATE:26022007
Federal Railroad Administrator Joseph H. Boardman today denied a $2.3 billion Railroad Rehabilitation and Improvement Financing (RRIF) loan application from the Dakota, Minnesota, & Eastern (DM&E) railroad concluding it posed an unacceptably high risk to federal taxpayers.
In a decision released today, Boardman found that while the Powder River Basin project met some of the RRIF programs statutory requirements, there remained too high a risk ...