(a) Financial assistance under this part is available solely to:

1. (1) Acquire, improve, or rehabilitate intermodal or rail freight or passenger equipment or facilities, including track, components of track, bridges, yards, buildings, and shops;
2. (2) Refinance outstanding debt incurred for purposes described in paragraph (a)(1) of this section; or
3. (3) Develop or establish new intermodal or railroad facilities.