Found this on the Altamont Press news line:
D&SNG gets loan of $1M for debt
The Durango & Silverton Narrow Gauge Railroad received a $1 million loan from the state to help the railroad recover from the economic impact of the Missionary Ridge Fire.
The Colorado Housing and Finance Authority made the loan last week to help the railroad with its immediate debt until it can make enough money from ticket sales to recover fully.
Earlier this summer train service to Silverton was suspended for three weeks. The railroad said it lost about $800,000 in revenue in June and $1.4 million in revenue in July, according to a CHFA press release.
State Sen. Jim Isgar, D-Hesperus, a member of the CHFA Board of Directors, said the authority speeded up the loan process for the train, because it realized how vital the train is to the Durango and Silverton economies. "They moved quickly and were willing to make a loan, which under normal circumstances would have taken more time in our economy," Isgar said. "They recognized the importance of the train to the community."
Representatives from the railroad did not return phone calls Saturday afternoon, but Jeff Jackson, senior vice president of the railroad, commented in the CHFA press release. "Our business plan covered every scenario except a hundred year drought," Jackson said in the release. "It's very important to us, to the people of La Plata County and to the state that our railroad is back up and running."
The state authority estimates the train provides jobs to 200 people in Durango and Silverton and brings $100 million to the area economy. "It wasn't about just trying to bail out the train," Isgar said. "It was about trying to bail out the 100 million dollars of economy."
The railroad asked for aid from Congress, and county commissioners requested $600,000 for fire equipment and personnel and a federal loan for the railroad in a letter to Colorado congressmen last month. - Jennifer Kostka, The Durango Herald, courtesy Larry W. Grant
