AK-2022-012
Formula Grant
Overview
Grant Description
This grant represents a total federal amount of $14,170,300, of which $13,623,116 is from federal apportionment available in the FY2022 Section 5337 State of Good Repair Formula funds for the Anchorage UZA, and $547,184 is from the federal apportionment available in the FY2022 Section 5337 State of Good Repair Formula funds for the Fairbanks UZA. This application will fund principal and debt service payments for projects included in the 2015 bond issuance.
The Alaska Railroad Corporation is the only designated recipient of Section 5337 (State-of-Good-Repair) funds for the Anchorage and Fairbanks UZAs. By executing this grant, we certify that projects funded in this grant are included in the 2018 TAM Plan Investment Prioritization.
Purpose:
This grant will fund principal and interest on debt service due in 2023. It will reimburse ARRC for the cost of principal and interest on revenue bonds ARRC issued for eligible capital improvement projects. The bonds were issued in 2015.
Activities to be performed:
This grant will fund principal and debt service interest payments for bonds funded under the 2015 bond issuance. Projects in the bond issuance include track rehabilitation, positive train control acquisition, and/or rehabilitation of passenger rolling stock, preliminary engineering/design of Anchorage car shop, and Moody Tunnel.
Expected outcomes:
The expected outcome of this grant will be to maintain the ARRC debt service payment schedule and to avoid default.
Intended beneficiaries:
The Alaska Railroad Corporation and the riders that rely on its service will benefit from continued services.
Subrecipient activities:
N/A
The Alaska Railroad Corporation is the only designated recipient of Section 5337 (State-of-Good-Repair) funds for the Anchorage and Fairbanks UZAs. By executing this grant, we certify that projects funded in this grant are included in the 2018 TAM Plan Investment Prioritization.
Purpose:
This grant will fund principal and interest on debt service due in 2023. It will reimburse ARRC for the cost of principal and interest on revenue bonds ARRC issued for eligible capital improvement projects. The bonds were issued in 2015.
Activities to be performed:
This grant will fund principal and debt service interest payments for bonds funded under the 2015 bond issuance. Projects in the bond issuance include track rehabilitation, positive train control acquisition, and/or rehabilitation of passenger rolling stock, preliminary engineering/design of Anchorage car shop, and Moody Tunnel.
Expected outcomes:
The expected outcome of this grant will be to maintain the ARRC debt service payment schedule and to avoid default.
Intended beneficiaries:
The Alaska Railroad Corporation and the riders that rely on its service will benefit from continued services.
Subrecipient activities:
N/A
Awardee
Grant Program (CFDA)
Awarding Agency
Funding Agency
Place of Performance
Alaska
United States
Geographic Scope
State-Wide
Related Opportunity
None
Analysis Notes
Infrastructure $14,170,300 (100%) percent this Formula Grant was funded by the 2021 Infrastructure Act.
Amendment Since initial award the End Date has been shortened from 12/31/23 to 10/31/23.
Amendment Since initial award the End Date has been shortened from 12/31/23 to 10/31/23.
Alaska Railroad Corporation was awarded
ARRC Debt Service Funding for 2015 Bond Projects
Formula Grant AK-2022-012
worth $14,170,300
from the FTA Office of Budget and Policy in June 2022 with work to be completed primarily in Alaska United States.
The grant
has a duration of 1 year 4 months and
was awarded through assistance program 20.525 State of Good Repair Grants Program.
$3,542,575 (20.0%) of this Formula Grant was funded by non-federal sources.
Status
(Complete)
Last Modified 11/20/23
Period of Performance
6/30/22
Start Date
10/31/23
End Date
Funding Split
$14.2M
Federal Obligation
$3.5M
Non-Federal Obligation
$17.7M
Total Obligated
Activity Timeline
Transaction History
Modifications to AK-2022-012
Additional Detail
Award ID FAIN
AK-2022-012
SAI Number
AK-2022-012-01-20.525
Award ID URI
SAI EXEMPT
Awardee Classifications
State Government
Awarding Office
6905A5 REGION 10 DOT FTA
Funding Office
693JJ8 OFFICE OF BUDGET AND POLICY(TBP)
Awardee UEI
NTFBL2RJ7X99
Awardee CAGE
1EQL5
Performance District
AK-00
Senators
Lisa Murkowski
Dan Sullivan
Dan Sullivan
Budget Funding
| Federal Account | Budget Subfunction | Object Class | Total | Percentage |
|---|---|---|---|---|
| Formula and Bus Grants, Liquidation of Contract Authorization, Federal Transit Administration, Transportation (069-8350) | Ground transportation | Grants, subsidies, and contributions (41.0) | $14,170,300 | 100% |
Modified: 11/20/23