Metra Seeks Financing for Old Railroad Bridges

Metra is planning urgent measures to restore the safety and sustainability of operations of old railroad bridges in and around Chicago. The agency owns 446 bridges, half of which are more than a century old. As those bridges become increasingly expensive to maintain, the agency faces serious funding shortfalls.

$5,4 Billion Need, $2,1 Billion Fund Shortage

Metra’s five-year plan calls for $5,4 billion to fund essential infrastructure, but only $2,1 billion is currently available, leaving a massive $3,3 billion deficit and prompting Metra to explore new financial strategies.

Railroad Rehabilitation and Improvement Financing (RRIF)

To fill this gap, Metra plans to use a $230 million Railroad Rehabilitation and Improvement Financing (RRIF) loan. The RRIF loan offers an attractive option for large infrastructure projects, with low interest rates, deferred payments and a 35-year repayment period. This financing model could enable large-scale investments to repair bridges.

Major Bridge Repair and Renovation Projects

Metra's plans include renovating major bridges in the Chicago area, including replacing 11 bridges on the UP North Line between Fullerton and Addison, rebuilding the Grand Avenue Bridge and the North Branch Chicago River Bridge, and rehabilitating the Hickory Creek Bridge on the Rock Island Line and the 96th Avenue Bridge in Mokena.

Reimbursement of Funding and Application Process

Metra plans to repay the loan at a rate of $15-20 million annually from fare revenues and sales taxes. The application process will begin with a letter of interest to USDOT’s Build America Office and is expected to take about a year for application approval.

Metra's Proactive Security Approach

This proactive approach by Metra aims to improve the safety and reliability of the rail system. By prioritizing key infrastructure projects, Metra is working to effectively use federal funding to ensure the safety of rail bridges. Such measures will allow the agency to continue to provide uninterrupted transportation services in the region.