Title
Norfolk Southern Corridor Acquisition for CATS Red Line Commuter Rail Project
Action
Action:
A. Approve the purchase of approximately 22 miles of the O-Line railroad right-of-way, track improvements and other real property rights from Charlotte to the Mecklenburg County line, in the amount of $74,000,000,
B. Approve the purchase of approximately 1.6 acres of real property and any associated real property rights located near the Charlotte Gateway Station, in the amount of $17,000,000,
C. Authorize the City Manager, and/or his designee, to negotiate and execute all documents necessary to complete the purchases,
D. Authorize the City Manager to negotiate and execute the Comprehensive Rail Agreement,
E. Authorize the City Manager to negotiate and execute an escrow agreement for transitional self-insurance coverage in the amount of $10,000,000, and
F. Adopt a budget ordinance appropriating $101,000,000 from the Municipal Debt Service Fund to the General Capital Projects Fund.
Body
Staff Resource(s):
Brent Cagle, CATS
Kelly Goforth, CATS
Brad Thomas, City Attorney's Office
Explanation
* The City/Charlotte Area Transit System is proposing to acquire approximately 22 miles of Norfolk Southern right-of-way (the O-Line) from Uptown Charlotte to the Mecklenburg County line (Council districts 1, 2, 4), as well as additional Norfolk Southern property for the Red Line Gateway Station in Uptown Charlotte (Council district 2). This corridor preservation would allow for the Red Line commuter rail project to be implemented in the future.
* The Red Line is part of the MTC's adopted 2030 Transit System Plan and is included in CRTPO's Comprehensive Transportation Plan. The Red Line is proposed to operate future commuter rail services along the existing Norfolk Southern O-Line, which would provide a regional connection between Uptown Charlotte and the northern towns.
* This transaction will require four separate agreements:
* Purchase and Sale Agreement for the...
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