National Academies Press: OpenBook
Page 14
Suggested Citation:"IV. CONCLUSION." National Academies of Sciences, Engineering, and Medicine. 2016. Issues that Emerge When Public Entities Acquire a Real Property Interest in Rail Lines. Washington, DC: The National Academies Press. doi: 10.17226/21927.
Page 14

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14 IV. CONCLUSION For many public agencies, the decision to approach a railroad with an offer to purchase a rail corridor for use in developing a new fixed-guideway transit sys- tem brings about a number of regulatory and other legal issues. Recognizing at the outset that some of the tools that are otherwise available to the public agency are not available in the context of railroad right-of-way acquisition, and recognizing the extent of federal protection of the rail carrier’s franchise, will allow the agency to approach the railroad with the requisite information to carry out the transac- tion. The increase in the number of fixed-guideway transit systems, and the growth of existing ones, likely shows that railroads can partake in property transfers that meet the objectives of both parties. Although negotiations with railroads may present challenges, public benefits from introducing new transit options to the community can also be realized.

Next: Annotated Term Sheet Template for Acquisition of Real Property Interests from a Railroad by a Public Agency Seeking to Operate Passenger Rail Service »
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TRB’s National Cooperative Rail Research Program (NCRRP) Legal Research Digest (LRD) 3: Issues that Emerge When Public Entities Acquire a Real Property Interest in Rail Lines presents potential issues and solutions that may emerge when state and local governments seek to acquire real property interests from an operating railroad in active rail corridors. The report also includes an annotated term sheet template for pursuit of the transaction.

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