The time to get started on the replacement of older locomotives is now. Around $2.9 billion is being distributed by the VW Mitigation Fund, and the money couldn’t come at a better time. A recent American Association of Port Authorities survey indicated that 80% of ports are seeking better rail access. At the same time, public agencies are looking for ways to reduce emissions. According to 67% of the responding ports, the biggest obstacle to getting rail projects started are financing and financing options. Under the terms of the settlement, older locomotives must be rebuilt to Tier 4 standards or scrapped to be eligible for mitigation funding. Public agencies can apply for up to 100% of the project cost. The funding amounts are lower for private companies, but they can also apply for the funds. Funds are significant but limited, and the deadline for applications varies by state, with some states already establishing deadlines as early as Aug. 1, 2018.
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