Trains Keep Chugging: Railroad Lease Renewal Ensures Smooth 20-Year Ride
Published Date: 4/23/2026
Notice
Summary
Tazewell & Peoria Railroad is renewing its lease to keep running trains on about 19 miles of Peoria and Pekin Union Railway tracks for the next 20 years, with options to extend. This means no big changes for workers or customers, but the company must notify employees and unions before the deal kicks in. The lease keeps things rolling smoothly without extra costs or surprises.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
20-Year Lease Keeps Rail Service
Tazewell & Peoria Railroad will continue to lease and operate about 19.3 miles of Peoria and Pekin Union Railway track under a new Lease Agreement that lasts 20 years and allows two five-year extensions. That means the same carrier will keep running the lines, preserving continuity of service for customers and workers.
Employee/Union Notice Requirement and Waiver
Because TZPR reports annual revenues over $5 million, the carrier must post notice at the workplace and serve national union offices at least 60 days before the exemption takes effect. TZPR has asked the Board to waive that 60-day requirement so the exemption could take effect 30 days after filing instead; the Board will decide the waiver separately.
No Environmental or Historic Review Required
The Board says this lease and operation exemption is categorically excluded from environmental review under 49 CFR 1105.6(c) and from historic preservation reporting under 49 CFR 1105.8(b). That means the action will proceed without those reviews under the cited rules.
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