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Today, the Regional Transportation District (RTD) of Denver and Union Pacific Railroad announced that RTD board’s FasTracks Committee approved a preliminary agreement on property acquisitions and line/facility relocations for the FasTracks program.

The deal — reached after several years of negotiations between the parties — calls for UP to receive about $185 million from RTD for various property and to relocate a line and shop. RTD would be responsible for civil engineering work. The preliminary agreement is subject to approval by RTD’s and UP’s boards.

RTD would acquire UP’s Boulder Industrial Lead, a portion of which will be used for RTD’s North Metro line. UP would retain freight operating rights in limited windows. RTD also would acquire East Corridor property from UP and the Class I would relocate its line to the north side of the corridor.

In addition, RTD would acquire a strip of property for its Gold Line and UP would relocate its shop on the West Corridor Burnham Lead. The existing yard lead right of way would be turned over to RTD for a new light-rail alignment, station and future flyover.

A 12-year program, FasTracks calls for expanding rail and bus service throughout RTD’s service area. Scheduled for completion in 2017, the program includes six new rail corridors, extensions to three existing corridors and the redevelopment of Denver Union Station.