Saturday, May 30, 2020

Rail deal discussed in closed session

train tracks 1

The future of the former CSX rail land in Chatham-Kent is still up in the air.

Reports say a deal to sell the rail line between Wallaceburg, Dresden and Chatham has been struck with a company.

However, it is still pending council approval.

According to a closed session report approved at Monday’s meeting, council directed administration in closed session on June 16, about the proposed disposition of land formerly owned by CSX.

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.

The municipality is then left with a commitment of $800,000, which will come from existing funds.

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