Evans Family Media worked this week with project Communications Coordinator Melissa Cano for the following update on the Uintah Basin Railway: The Uinta Basin Railway provides new transportation infrastructure that will solve the long-standing freight transportation challenges in the region by connecting to the national railway network. This common-carrier railway will move goods in a safe and cost-effective way to enable economic stability, sustainable communities, and an enriched quality of life. Within the basin, freight transportation is currently limited to large trucks traveling on two-lane highways, over high mountain passes, with intermittent passing lanes. This can lead to increased congestion, maintenance costs, safety risks, and disruption of flow of traffic by snowstorms and accidents. By connecting to the national railway network, businesses in the region can move goods in a safe, cost-effective way. The Seven County Infrastructure Coalition is the public partner in this endeavor. This month, the Coalition adopted a resolution which provides an opportunity to act as a conduit issuer to facilitate debt for the project. This is an initial step in the funding process through the already established public-private partnership. It allows for project flexibility to obtain lower-cost debt as part of the ultimate funding package. The ultimate funding package, which will include both debt and equity, is in process of finalization. This action does not commit anyone to anything at this point, but simply creates opportunity for the use of tax-exempt debt to lower borrowing costs to the project. As we move forward with the funding and commercialization via our public-private partnership, we look forward to continuing our technical investigations and the design of the railway, with construction in the near future. “It’s an exciting time for the project,” said Seven County Infrastructure Coalition Executive Director Keith Heaton. “We are making steady progress and look forward to all of the benefits the railway will bring to our rural counties.” The railway will enable economic stability through well-paying jobs and steady employment, creating sustainable communities where families can thrive together within the region.
