GNP/Ballard, a partnership between the operator of Seattle short-haul Ballard Terminal Railroad and the owner of GNP Railway, will pay the port for use of the corridor, which runs from Snohomish and Woodinville, the release said.
The Port of Seattle said it is acquiring the corridor for $107 million from Class I railroad BNSF, who selected the short line operator.
Any contract between the port and GNP/Ballard will not be finalized until transfer of the corridor is complete, the release said. The port also said it would have to conduct a public process to gain input on how local citizens would like to see the rail corridor used.
According to the port, King County will contribute $2 million toward the purchase price in return for an easement for public trail development on the southern segment of the corridor.
The U.S. Surface Transportation Board is expected to grant approval before the end of the year, the port said.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
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Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now