Gt. Smoky Mt. RR get FRA's RRIF loan.

The Durango & Silverton sister railroad, the Great Smoky Mountain RR, in far western North Carolina, has received a $7.5 million direct loan from the FRA Railroad Rehabilitation and Improvement Financing (RRIF) program. It will be used to refinance existing debt and upgrade 4 miles of track to heavier rails. Plus it will pay to install 38,000 ties and purchase and install three turntables to turn steam locomotives. The repayment period may be up to 25 years at an interest rate equal to the cost of borrowing to the federal government. That will give the 53-mile GSMR more cash for maintenance and capital improvement expenditures. There rumor of a new steam locomotive being arranged.
The company had 167,000 passengers in 2004, and employs about 46 people full time and about 140 seasonal employees. It is also developing a traffic generator for the younger kids, somewhat like the Thomas the Tank Engine, but with an entirely different image. The Durango & Silverton NG RR recently received a lower cost loan, also making more money available for improvements. Maybe they will install some RV gas heater under the floor of the cars to take the chill off on some of the unheated Silverton trip cars. Sure is good news to hear of #476 reconstruction plans and the rebirth of a new Silver Vista Clone.