This bill, known as the Union Station Redevelopment Corporation Funding Eligibility Act, aims to bolster the financial resources available to the Union Station Redevelopment Corporation (USRC). It achieves this by explicitly making the USRC eligible to receive funding from several major federal transportation grant programs. The legislation amends existing statutes to include the USRC as an eligible entity for grants including: Better Utilizing Investments to Leverage Development (BUILD) grants National Infrastructure Project Assistance grants Consolidated Rail Infrastructure and Safety Improvement (CRISI) grants Federal-State Partnership for Intercity Passenger Rail grants A crucial aspect of this bill is the provision that mandates a 100 percent federal share for any project costs covered by these grants when awarded to the USRC, thereby eliminating the need for local matching funds.
This bill, known as the Union Station Redevelopment Corporation Funding Eligibility Act, aims to bolster the financial resources available to the Union Station Redevelopment Corporation (USRC). It achieves this by explicitly making the USRC eligible to receive funding from several major federal transportation grant programs. The legislation amends existing statutes to include the USRC as an eligible entity for grants including: Better Utilizing Investments to Leverage Development (BUILD) grants National Infrastructure Project Assistance grants Consolidated Rail Infrastructure and Safety Improvement (CRISI) grants Federal-State Partnership for Intercity Passenger Rail grants A crucial aspect of this bill is the provision that mandates a 100 percent federal share for any project costs covered by these grants when awarded to the USRC, thereby eliminating the need for local matching funds.