Luzerne County Council rejects sale of rail line to R.J. Corman Railroad Group
- Reports
- 3
- Developments
- 1
- Repetition
- 67%
New informationRepeats or wire copies
What happened
Luzerne County Council voted unanimously to reject a proposal to sell the county redevelopment authority’s rail properties to R.J. Corman Railroad Group LLC for $8.2 million. The county redevelopment authority had previously voted to sell the line to R.J. Corman. The council’s rejection comes despite a settlement agreement requiring a sale to close by October 9.
Why it matters
The sale was intended to allow the county redevelopment authority to pay off a $3.3 million debt owed to Luzerne County. If the sale does not close by the deadline, the county would take possession of all rail property.
The county redevelopment authority currently owns a rail line in Luzerne County.
Who's involved
- R.J. Corman Railroad GroupThe railroad company that proposed to purchase the county rail line.
- Luzerne CountyThe county whose council voted on the sale and holds the debt owed by the redevelopment authority.
- Wilkes-BarreThe county seat where the council meeting took place.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Luzerne CountySpeculative
Luzerne County could face delays in resolving the $3.3 million debt owed by the county redevelopment authority.
Keep exploring
The entities involved
-
R.J. Corman Railroad Group
American railroad company
Nothing else this week.