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King County, Wash., has approved the Port of Seattle's plan to acquire a 42-mile corridor from BNSF Railway Co.
The port proposes to spend up to $107 million to negotiate a deal with BNSF by Dec. 31. The county agreed to transfer its right to purchase the corridor to the port in exchange for the right of first refusal if the port agrees to sell all or part of the right of way.
The port would lease part of the "Eastside" corridor in King and Snohomish counties to King County to develop a public-access trail.
Freight trains would continue to use a section from Woodinville to Snohomish.
12/18/2007
Rail News: M&A
Seattle port gains county approval to pursue BNSF corridor
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King County, Wash., has approved the Port of Seattle's plan to acquire a 42-mile corridor from BNSF Railway Co.
The port proposes to spend up to $107 million to negotiate a deal with BNSF by Dec. 31. The county agreed to transfer its right to purchase the corridor to the port in exchange for the right of first refusal if the port agrees to sell all or part of the right of way.
The port would lease part of the "Eastside" corridor in King and Snohomish counties to King County to develop a public-access trail.
Freight trains would continue to use a section from Woodinville to Snohomish.
