The State of Washington has two Rail Assistance programs:

Freight Rail Investment Bank

Rail Bank Application 2010 (pdf 437 kb)

The Freight Rail Investment Bank program is a loan program available to the public sector, intended for either smaller projects or as a small part of a larger project where state funds would enable the project to be completed. 

• The governor and state legislature will provide $5 million for the Freight Rail Investment Bank program during the 2011-2013 Biennium.
• This is a loan program and is open to organizations in the public sector only, as loans to the private sector are outside the constitution of the state.
• The loan maximum is $250,000, but could be higher depending on the amount of qualifying applications received and the caliber of proposed projects. Additionally, all applicants have to prove a minimum 20% match.

Freight Rail Assistance Program

Freight Rail Assistance Application 2010 (pdf 423 kb)

The Freight Rail Assistance Program is a grant program open to applicants in both the public and private sector and is directed toward larger projects where it is difficult to gain a contribution and where the rail location or the project is of strategic importance to the local community and the state.

• The legislature will allocate $2.75 million for freight rail assistance projects during the 2011–2013 Biennium.It is not restricted in the size of award. 
• The legislature determines how those funds will be spent based upon the applications submitted through WSDOT and may choose to increase or decrease the actual funding made available for the 2011-2013 Biennium.
• This is a grant program and is open to cities, county rail districts, counties, economic development councils, port districts, and privately or publicly owned railroads.
• Projects must be shown to maintain or improve the freight rail system in the state and benefit the state’s interests.

Both programs are administered by WSDOT and require the applicants to provide a business plan for the project and are subject to a cost/benefit calculation to ensure that they are cost effective. The criteria is slightly different with the Rail Bank as the application process allows the applicant to self score 80% of their marks which are based on such things as their own contribution and number of additional jobs that the project will bring to the area.

All criteria in the Freight Rail Assistance program is scored by WSDOT acting with the Washington State Department of Commerce and covers aspects of environmental improvements (aimed at achieving the Governors greenhouse gas emissions mission), transference of traffic from road to rail modes, and economic impact to the state as a whole.

In the most recent biennium (2009-2011) there were 2 projects submitted to the Rail Bank and 12 projects that were submitted to the Freight Rail Assistance program.