H86 - Restore Wallace to Wilmington Railroad

• Department of Transportation shall expend up to $2,000,000 for environmental permits and assessment to restore the abandoned state-owned rail line from Wallace to Castle Hayne.

• Department of Transportation shall seek $63,200,000 in funding for an economic development project to revitalize and restore the rail connection between Wallace, Castle Hayne, and the Port of Wilmington, with potential sources including the North Carolina Railroad Company, DOT Mobility Fund, federal transportation and defense departments, and economic development funds.

• Department of Transportation shall report funding options and recommendations to accelerate the rail project in the TIP (Transportation Improvement Program) to the Joint Legislative Transportation Oversight Committee by November 1, 2013.

• Joint Legislative Transportation Oversight Committee shall study improvements to state transportation infrastructure for military transportation, including moving military personnel and equipment from bases to ports and Military Ocean Terminal Sunny Point.

• All dividends and one-time cash payments from the North Carolina Railroad shall be appropriated to the Rail Division for this project and other rail freight enhancement activities serving commercial, military, and agricultural traffic; Department of Administration shall maximize non-rail assets through leasing and sales without impacting existing trackage agreements.