Saturday, May 30, 2020

Deal pending for former CSX rail line

train light

The future of the former CSX rail land between Wallaceburg, Dresden and Chatham could be announced soon.

Reports say a deal to sell the rail line has been struck with a company.

However, it is pending council approval, reports say.

The deal was discussed behind closed doors today.

During the closed session meeting, council received advice about “proposed disposition of land” for the rail lands.

It is still unknown when the deal will be announced.

The Municipality purchased the land and infrastructure last year for $4 million.

Reports say they have an agreement in place with Canadian Pacific to sell the fixtures, rails and ties, for $3.2 million.

There is an agreement with Canadian Pacific for the sale of the fixtures, such as rails and ties, but not the land, working out to $3.2 million. The municipality is then left with a commitment of $800,000, which will come from existing funds.

Watch for a follow-up story on the Sydenham Current.

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