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CFTE Glossary
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Rail modernization
Federal funding granted under Section 3(h) of the Federal Transit Act (formerly known as the Urban Mass Transportation Act). These discretionary funds are distributed by a formula and made available to transit systems for improvements to fixed guideway systems that have been in service for at least seven years. Also known as "fixed- guideway modernization."
Railbus
A relatively light, diesel-powered, two-axle rail vehicle with a body resembling that of a bus.
Ramp-up Phase
The phase in a project's life cycle immediately following construction. It is during this phase, the early years of operation, that a project's revenue stream is established.
Range of Housing Choices
Housing choice means providing households of all income levels with the ability to live in a home that meets their needs. This requires communities to promote housing of varying type (apartment, a rowhouse, or a traditional suburban) and cost, and locating them in proximity to places of work, services, and transportation. Expanded housing choice allows communities to mitigate the environmental costs of auto-dependent development, use their infrastructure resources more efficiently, ensure a better jobs-housing balance, and generate a strong foundation of support for neighborhood transit stops, commercial centers, and other services.
Rapid rail
Transit service using rail cars driven by electricity that usually is drawn from a third rail, is configured for passenger traffic and is operated on exclusive rights-of-way. It generally uses longer trains and has longer station spacing than light rail. Also a subway-type transit vehicle railway operated on exclusive rights-of-way with high-platform stations. "Rapid rail" also may operate on elevated or at-grade level track separated from other traffic.
Rapid transit
Rail or motor bus transit service operating completely separate from any other modes of transportation on an exclusive right-of-way
Rate Covenant
A contractual agreement in the legal documentation of a bond issue requiring the issuer to charge rates or fees for the use of specified facilities or operations at least sufficient to achieve a stated minimum debt service coverage level.
Rating Agency
An organization that assesses and issues opinions regarding the relative credit quality of bond issues. The three major municipal bond rating agencies are Fitch Investors Service, Moody's Investors Service, and Standard and Poor's.
Reconciling items
Items for which accounting practices vary for handling these expenses as a result of local ordinances and conditions. Reconciling items include depreciation and amortization, interest payments, leases and rentals. They are called reconciling items because they are needed to provide an overall total that is consistent with local published reports.
Recovery ratio
A cost-effectiveness indicator that measures the overall performance of a transit system by comparing total revenue to total operating expenses. Higher ratios are more desirable, however the difference
Recycled funds
Second and future generation(s) of assistance from a financial institution resulting from repayment of prior loan.
Redevelopment
Renovation of a previously developed parcel of land or building site in order to allow a new or more-viable use or uses to replace the previous land use. These sites typically are found in urban areas that previously had experienced economic and physical deterioration, but that now are the focus of renewal efforts. Also an official government process that relies on "tax exempt" financing for rebuilding or rehabilitating "blighted" areas of cities.
Reestimates
Estimates of the subsidy costs performed subsequent to their initial estimates made at the time of a loan's disbursement.
Referendum
A ballot measure that is usually "referred" by the legislature and placed on the ballot for voters to approve or reject
Regional Planning
Regional Planning Organizations are usually agencies or councils that define regionwide development concerns, prescribe regional strategies, and coordinate local actions. Many are purely advisory and depend on local governments to implement their plans. The organizations in this database have demonstrated success in strategic regional planning and have some control over implementation activities. Metropolitan Planning Organizations (MPO's) are required by the Federal Highway Act of 1962 in all metropolitan areas of over 50,000 population. MPO's are responsible for transportation planning and for allocating federal and state transportation funds. One of the most popular types of MPO is the Regional Transportation Authority.
Regional rail
Rail transit services that uses self-propelled, diesel-fueled rail cars (also called diesel multiple units or DMU), can operate on the same tracks as frieght trains, and typically connects activity centers within a single metropolitan region. Also another term for "commuter rail."
Regular bus/vehicle hours
Hours of service provided in regular fixed-route revenue service only. Does not include deadhead or charter service hours.
Regular bus/vehicle miles
Miles driven in regular fixed-route revenue service only. Does not include deadhead or charter service hours.
Rehabilitation
Major renovation, rebuilding or repair of a transit vehicle for the purpose of preserving its useful service life. Also refers to cost-effective method to provide affordable housing in communities with a large stock of older housing or structures that could lend themselves more easily to conversion into residential units. Rather than spending limited housing dollars on new construction, subsidies can be directed towards increasing the affordability of existing housing and or improving the habitability of substandard housing. Rehabilitation can also improve the appearance of whole neighborhoods and preserve historical sites for the community.
Renewable energy
Energy obtained from sources that essentially are inexhaustible, unlike fossil fuels, for example, of which there are a finite supply. Renewable energy sources include wood, waste, photovoltaic and solar thermal energy.
Rent Control
In rent controlled jurisdictions, annual rent increases are allowed based on an established percentage, typically based on the rate of inflation. Many jurisdictions also have what is called "vacancy decontrol" in which rents may revert to market rates whenever a unit is voluntarily vacated by a tenant. Nearly all rent control regulations allow owners to repossess a unit for their own use, and provide exemptions for small, multi-unit buildings in which the owner is also a resident of one of the units.
Rental assistance
Several local governments help qualified individuals or families locate and afford market-rate rental housing. For those having difficulty securing an apartment, loans or grants may be provided for all or a portion of the first and last month’s rent as well as the security deposit. To improve the affordability of housing, some communities provide limited monthly subsidies to low-income households.
Re-oriented local bus service
Existing local bus service that has been altered to serve new rail transit stations in addition to stops previously established in the service area.
Repayment agreement
Agreement that establishes the terms and conditions governing the recovery of a debt of the lender and borrower when credit is initially extended or a debt is rescheduled. See: "Reschedule."
Reschedule
Procedure of establishing new terms and conditions to facilitate repayment of a debt. Also called restructuring, refinancing, and reamortizing, rescheduling includes establishing new terms as a result of changes in authorizing legislation (e.g., congressional action allowing farmers to have an additional 5 years to pay off their loans).
Rescission
A federal budgetary term that refers to the cancellation, in whole or part, of budget authority previously granted by Congress.
Revenue seat mile
The movement of one transit passenger seat the distance of one mile. The total number of revenue seat miles for a vehicle is obtained by multiplying the number of revenue seats in the vehicle by the number of miles traveled.
Revenue service
The time when a vehicle is available to the general public and there is a reasonable expectation of carrying passengers that either directly pay fares, are assisted by public policy or provide payment through some contractual arrangement. Vehicles operated in fare-free service are considered to be in revenue service. Revenue service excludes deadhead, school bus and charter services.
Revenue vehicle mile
The distance in miles that a revenue vehicle is operated while it is available for passenger service.
Revenue vehicles
The fleet and rolling stock used in providing transit service for passengers. The term "revenue vehicles" includes the body and chassis and all fixtures and appliances inside or attached to the body or chassis, except fare-collection equipment and revenue- vehicle movement control equipment.
Reverse commuting
Travel in a direction opposite the main flow of traffic during commuting times.
Revitalization area
In land-use and transit planning, an urbanized area in which the land is underutilized and/or the existing development is significantly deteriorated.
Revolving loan fund
Financing tool that recycles funds by providing loans, receiving loan repayments, and then providing further loans.
RGP
Rural general public (transit)
RGR
Regional rail: see "commuter rail."
Ridership
The number of rides taken by people using a public transportation system during a given time period.
Ridesharing
A form of public transportation, other than public transit, in which more than one person shares the use of the vehicle, such as a van or car, to make a trip. Also known as "carpooling," "buspooling" or "vanpooling." Generally, carpooling agreements are not arranged by contract, whereas vanpool and buspool agreements are contractually binding.
Right-of-way
A public or private area that allows for passage of people or goods, including, but not limited to, freeways, streets, bicycle paths, alleys, trails and walkways. A public right-of-way is dedicated or deeded to the public entity for use under the control of a public agency.
Ring
In land-use and transit planning, the approximate area between 1/4-mile radius (the core) and 1/2-mile radius from a rail transit station, representing about a 10 to15-minute walk to the station. Also refered to as the "neighborhood."
Riparian Area
Vegetated ecosystems along a waterbody through which energy, materials, and water pass. Riparian areas characteristically have a high water table and are subject to periodic flooding
Risk category
Subdivisions of a cohort of direct loans or loan guarantees into groups of loans that are relatively homogeneous is cost, given the facts known at the time of obligation or commitment. Risk categories will group all loans obligated or committed for a program during the fiscal year that share characteristics predictive of defaults and other cost.
Risk Management
An element of a transit system’s safety management program. Includes identification and evaluation of potential safety hazards for employees, passengers and the public
Rolling stock
The equipment used in a transit system, including buses and rail cars. Also see "fleet."
Route miles
The total number of miles included in a fixed-route transit system's network.
RPEV
Roadway-powered electric vehicle
RRT
Rapid rail transit
RT
Rail transit
RTAP
Rural Technical Assistance Program
Runoff
Rain and snowmelt that is not absorbed into the ground but instead flows directly into streams and rivers.
Rural
Usually refers to areas with populations less than 5,000. Areas outside the limits of any incorporated or unincorporated city, town, village, hamlet or any other designated residential or commercial area such as a subdivision, business or shopping center or community development. Also includes all areas of a state that are outside the Federal Highway Administration approved and adjusted census boundaries of small urban and urbanized areas.
Rural general public transit system
Transit systems in rural areas (areas with less than 5,000 population) that provide transportation services to clients of human-service agencies and the general public. Federal Section 18 funds are used to assist in the administration and operating expenses of these systems.
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