Utah Transportation Commission Agenda Packet 2026-05-15
$700,000 SIB Loan Approved for Heber Valley Railroad Repairs
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Description
The Utah Transportation Commission approved a $700,000 State Infrastructure Bank loan to the Heber Valley Railroad Authority for urgent repairs to a failed retaining wall on state-owned railroad right-of-way, with a 15-year term and 3.86% interest rate. Repayment is expected to occur sooner through legislative appropriation.
Contract Details
Contract Amount
$700,000
Vendor
HEBER VALLEY RAILROAD AUTHORITY
Agency
Utah Department of Transportation, UT
Contract Type
FINANCIAL_SERVICES
Document Date
May 15, 2026
Contract Term
15 years (expected repayment FY2027), interest rate 3.86%
Renewal Date
2041-06-01
Renewal Info
No automatic renewal; early repayment expected with legislative funding in FY2027.
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