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Executive Appropriations Committee approves $10 million loan to revive Tooele County rail link
Summary
The committee approved a $10 million loan from the Utah Inland Port Authority to rebuild abandoned track and connect Lakeview Multimodal Business Park to Class I rail, a project the port authority says will remove an estimated 5,000 trucks from Salt Lake City-area roads.
The Executive Appropriations Committee on Feb. 18 approved a $10 million infrastructure loan from the Utah Inland Port Authority to rebuild and extend rail in Tooele County.
The loan, recommended by the port’s loan committee and approved by the Inland Port Board, will be for 10 years at a 3.45% interest rate and is intended to revive a six-mile abandoned Union Pacific line and construct five miles of new track to link the Lakeview Multimodal Business Park to a Class I rail line and transload facility near Burmester, Utah. The Authority estimated the project…
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