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Deadline Nears on Coos Bay Rail Line Purchase
Author: Coos Bay Rail Fan
Date: 01-30-2009 - 11:29
FROM KQEN Radio-Roseburg, Oregon :
Both Oregon Congressman Peter DeFazio and State Senator Jeff Kruse are working behind the scenes in an effort to find funding for the purchase of the Coos Bay Rail Line.
DeFazio is back in Oregon today. He would like to see some federal money reallocated to the Port of Coos Bay.
DeFazio says he is trying to fast track that deal through. Like several other people working on the situation, DeFazio can only say so much about the process.
Rail2
In Salem, State Senator Jeff Kruse sounded like the Little Engine That Could when asked whether the Legislature can save the day.
One of the options might be to redirect ConnectOregon funding to the Port. Both Congressman DeFazio and Oregon Senator Ron Wyden are asking the Surface Transportation Board for an extension to the deadline.
So far there has been no response to their requests, as it stands now the deadline for the Port to complete the $16.6 million dollar purchase is at 5PM East Coast time on February 18th.
Without a federal extension, the Central Oregon and Pacific Railroad has permission to begin disassembling the line and selling it for scrap starting February 19th.
The International Port of Coos Bay was put in a bind last Friday when officials learned they had lost a 12.5 million dollar line of credit.
Requests for an explanation as to why the Port lost its line of credit with Umpqua Bank have not been answered.
Both Oregon Congressman Peter DeFazio and State Senator Jeff Kruse are working behind the scenes in an effort to find funding for the purchase of the Coos Bay Rail Line.
DeFazio is back in Oregon today. He would like to see some federal money reallocated to the Port of Coos Bay.
DeFazio says he is trying to fast track that deal through. Like several other people working on the situation, DeFazio can only say so much about the process.
Rail2
In Salem, State Senator Jeff Kruse sounded like the Little Engine That Could when asked whether the Legislature can save the day.
One of the options might be to redirect ConnectOregon funding to the Port. Both Congressman DeFazio and Oregon Senator Ron Wyden are asking the Surface Transportation Board for an extension to the deadline.
So far there has been no response to their requests, as it stands now the deadline for the Port to complete the $16.6 million dollar purchase is at 5PM East Coast time on February 18th.
Without a federal extension, the Central Oregon and Pacific Railroad has permission to begin disassembling the line and selling it for scrap starting February 19th.
The International Port of Coos Bay was put in a bind last Friday when officials learned they had lost a 12.5 million dollar line of credit.
Requests for an explanation as to why the Port lost its line of credit with Umpqua Bank have not been answered.
Deadline Nears on Coos Bay Rail Line Purchase