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Rail News: Passenger Rail
10/15/2001
Rail News: Passenger Rail
GCRTA board to consider financial, physical growth
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Greater Cleveland Regional Transit Authority’s board plans to meet Oct. 16 and consider several resolutions to position RTA for future growth.
The board might authorize the general manager to develop a sale-and-leaseback plan for RTA assets, which could generate at least $12 million in new revenue. CIBC World Markets Inc. has been recommended for lessee advisor services. The board also will consider hiring A.G. Edwards & Sons Inc. to provide underwriting services for a future debt issuance. Fees for such services would not exceed $144,000.
Other resolutions involve hiring Lebis Enterprises Inc. to demolish the former Freedom Church building on Euclid Avenue for $42,300, and hiring Schirmer Construction to replace sidewalks at Cedar/University Red Line station for $138,800.
Finally, the board plans to consider awarding R.L. Bowen and Associates a $218,000 contract for final design architecture/engineering services for the North Olmsted Transit Center near the intersection of Interstate-480 and Columbia Road.
The board might authorize the general manager to develop a sale-and-leaseback plan for RTA assets, which could generate at least $12 million in new revenue. CIBC World Markets Inc. has been recommended for lessee advisor services. The board also will consider hiring A.G. Edwards & Sons Inc. to provide underwriting services for a future debt issuance. Fees for such services would not exceed $144,000.
Other resolutions involve hiring Lebis Enterprises Inc. to demolish the former Freedom Church building on Euclid Avenue for $42,300, and hiring Schirmer Construction to replace sidewalks at Cedar/University Red Line station for $138,800.
Finally, the board plans to consider awarding R.L. Bowen and Associates a $218,000 contract for final design architecture/engineering services for the North Olmsted Transit Center near the intersection of Interstate-480 and Columbia Road.
