Rail Line Deal PendingJune 9, 2014 10:16pm
Chatham-Kent Council is looking for more information before approving a deal to sell the municipally-owned rail line running between Chatham, Dresden and Wallaceburg.
The selling price and details of the buyer have yet to be made public by the municipality. Mayor Randy Hope tells BlackburnNews.com he was hoping to make an announcement at Monday’s council meeting, but concerns raised during a closed session meeting lead to the announcement being postponed.
“We’ve struck a deal with a company and we’re now trying to firm up that deal and it needs council approval,” says Hope. “It is a company that has a good reputation that we believe will meet the needs of the current consumers on the line and look at future opportunities.”
An unknown company was repairing parts of the former CSX rail line last fall.
Director of Economic Development for Chatham-Kent Michael Burton had previously told BlackburnNews.com two Chinese companies were looking at possibly investing in the area and needed access to rail.
Hope says it is unclear when a formal announcement will be made. Chatham-Kent agreed to purchase the 26-mile rail line for $4-million last summer.