Saturday, December 29, 2007

Rail Corridor Deal Gets Small Delay

From the Seattle Times this morning:

Rail-corridor deal is delayed a bit
Port of Seattle officials now expect to sign a final deal sometime next month to buy the Renton-to-Snohomish rail corridor from BNSF Railway, a Port spokeswoman said Friday.
The two sides had been expected to complete negotiations by Monday, the day that King County's exclusive right to negotiate with the railroad was set to expire. The Port took over the county's position as the prospective buyer under a preliminary agreement with BNSF and the county.
Port spokeswoman Charla Skaggs aid officials anticipate signing a purchase and sale agreement next month, with the deal closing several months later. BNSF had agreed to sell the 42-mile line to the Port for $103 million, but the price may be adjusted if the railroad leaves all the tracks in place for possible future passenger rail service.

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