Page 64 - 2014_15CommunityRpt_FlipBookPDF

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2004 In 2004, CHFA stepped in and provided the
owners of the railroad a loan that assured
chfa finances one of them financial stability for years to come.
its largest business This loan represented one of CHFA’s largest
transactions business finance transactions in our history.

In 2002, drought and resulting wildfire “CHFA was there for us,” said Jeff Jackson,
conditions in southwest Colorado forced Senior Vice President of the railroad in 2004.
the Durango and Silverton Narrow Gauge “First, CHFA approved a one million dollar
Railroad, a National Historic Landmark, to loan to help the railroad get through the
suspend passenger service to Silverton. hard times and then at the end of 2004, they
With the potential loss, Colorado faced a refinanced the railroad’s entire debt.”
significant negative economic impact as the
railroad was estimated to infuse nearly $100
million to the region, and directly impact
one out of every six employees in La Plata
and San Juan counties.

The Durango and Silverton Narrow Gauge Railroad, a business customer in Durango