Regarding the Belden Tunnel project...
This article appeared in the April-May 1984, Volume 11, Number 9, edition of Tri-State's (NRHS) Block Line magazine:
"After months of delay, Guilford Transportation Industries finally took control of the financially ailing D&H on January 5, 1984, after signing a debt restructering agreement that literally wipes out a D&H debt of $76 million to the federal government.
Under the agreement, authorized by congress, the tab will only have to be paid in the event of the bankruptcy, liquidation,, or abandonment of the railroad.
The Guilford system (including the Maine Central and Boston & Maine) now stretches over 3,900 miles of track (both owned and trackage rights) from Portland, ME to Buffalo, NY and Alexandria, VA.
As part of the takeover, New York State has agreed to give the railroad $24 million for the rebuilding of its Albany - Binghamton mainline, including the expansion of Belden Hill tunnel. And, the state will provide an additional $3 million subsidy for losses on local freight service.
Sources: Cinders, Staff, Traffic World, Star Ledger