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Rail News: Passenger Rail
7/17/2009
Rail News: Passenger Rail
Denver RTD reaches initial land sale agreement with BNSF for FasTracks lines
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The Regional Transportation District of Denver (RTD) and BNSF Railway Co. recently signed a memorandum of understanding regarding property RTD plans to acquire from the Class I to advance the FasTracks transit-rail expansion program. The agency plans to use land in BNSF’s Front Range and Golden subdivisions to build the initial segment of the Northwest Rail Corridor and Gold Line.
RTD and BNSF expect to finalize a sale agreement by January. The parties already have agreed on several components of the pact, including the relocation and realignment of BNSF facilities and infrastructure between Denver Union Station and Pecos. RTD would pay BNSF $93.7 million for the land and $32 million for certain relocation expenses.
Last year, RTD reached a property purchase agreement with Union Pacific Railroad to acquire land for FasTracks program projects.
Scheduled for completion in 2017, the FasTracks program calls for building 122 miles of rail, including six new commuter- and light-rail lines and three line extensions. The program also includes the redevelopment of Denver Union Station, construction of 18 miles of bus rapid transit service and addition of 21,000 new parking spaces.
RTD and BNSF expect to finalize a sale agreement by January. The parties already have agreed on several components of the pact, including the relocation and realignment of BNSF facilities and infrastructure between Denver Union Station and Pecos. RTD would pay BNSF $93.7 million for the land and $32 million for certain relocation expenses.
Last year, RTD reached a property purchase agreement with Union Pacific Railroad to acquire land for FasTracks program projects.
Scheduled for completion in 2017, the FasTracks program calls for building 122 miles of rail, including six new commuter- and light-rail lines and three line extensions. The program also includes the redevelopment of Denver Union Station, construction of 18 miles of bus rapid transit service and addition of 21,000 new parking spaces.
