Re: Coos Bay Rail Line Purchase Saved
Author: Tom H
Date: 02-06-2009 - 16:35
Buying the railroad is just the first step. Who is going to finance the rebuilding of the tunnels and other work needed? Also, the first 7.2 million has to be repaid withing 24 months. If that can't be repaid who owns the railroad, the economic development commission? This could wind up being a bad deal for the state if the Port doesn't get the money they are expecting. I guess the state could get the scrap value if things don't work out.