Glossary
Feeder Railroad Development Program
Tags: Glossary
A federal program allows any financially responsible person (except Class I and Class II carriers) with ICC approval to acquire a rail line with a density of less than 3 million gross ton-miles per year in order to prevent the line from being abandoned.
What is Feeder Railroad Development Program?
The Feeder Railroad Development Program is a federal initiative designed to prevent the abandonment of rail lines with low traffic density. This program allows individuals or entities, who are financially responsible and have obtained approval from the Interstate Commerce Commission (ICC), to acquire such rail lines.
Rail lines with a density of less than 3 million gross ton-miles per year are considered to have low traffic. These lines may not be economically viable for larger railroad companies known as Class I and Class II carriers. However, these lines still play a crucial role in connecting communities and facilitating the transportation of goods.
The Feeder Railroad Development Program aims to ensure that these rail lines continue to operate and serve their purpose. By allowing financially responsible individuals or entities to acquire these lines, the program prevents their abandonment. This is important because the abandonment of rail lines can have significant negative impacts on local economies and transportation networks.
The program is open to anyone who meets the financial responsibility criteria and obtains approval from the ICC. This means that individuals, organizations, or even local governments can participate in the program. By allowing a diverse range of participants, the program encourages community involvement and ensures that the rail lines are managed by those who have a vested interest in their success.
Acquiring a rail line through the Feeder Railroad Development Program comes with certain responsibilities. The new owners are expected to maintain and operate the rail line in a safe and efficient manner. They must also comply with all relevant regulations and standards to ensure the smooth functioning of the rail line.
Overall, the Feeder Railroad Development Program is a valuable initiative that helps preserve and sustain rail lines with low traffic density. By preventing their abandonment, the program ensures that these rail lines continue to contribute to the transportation infrastructure and economic development of the communities they serve.