Trains Keep Chugging: Railroad Lease Gets a Quiet Renewal Tweak
Published Date: 3/28/2025
Notice
Summary
Central New York Railroad Corporation is extending and updating its lease to keep running 123 miles of track between New York and Pennsylvania, leased from Norfolk Southern Railway since 2004. This update tweaks lease renewal rules but keeps all other terms the same, with no big changes to money or operations right now. The lease includes a promise to keep trains smoothly switching between the two railroads, keeping things on track for the future.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Rail Service Continued on 123.1 Miles
Central New York Railroad Corporation will continue to lease and operate approximately 123.1 miles of track between milepost 89.9 (near Port Jervis, NY) and milepost 213.0 (Binghamton, NY). The amendment extends the lease term and changes lease renewal language but keeps all other terms the same, so current operations and service on the Line remain in place as of the exemption effective April 12, 2025.
Interchange Commitment Preserved
The lease includes an existing interchange commitment between Central New York Railroad Corporation and Norfolk Southern Railway Company, and CNY provided additional information about that commitment as required by regulation. This keeps the formal promise to allow trains and freight to switch between the two railroads.
Revenue Under $5 Million; Carrier Class Unchanged
CNY certifies that projected annual revenues from this transaction will not exceed $5 million and that the transaction will not create a Class II or Class I carrier. That certification is part of the verified notice filed with the Board.
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