Item 7a Supp
7a Supp December 15, 2009 BNSF Eastside Rail Corridor Acquisition Briefing Port of Seattle Commission December 15, 2009 Phase 1--Acquisition Port of Seattle closes on purchase 12-17-09 Acquisition price--$81.5MM Port of Seattle concurrently executes: Operating license with GNP Railway Co. Operating and maintenance agreement with GNP Railway Co. Phase 1Operations GNP Railway Co. Acquires freight easement from BNSF Provides freight service Woodinville to Snohomish Assumes maintenance and repair obligations for the corridor Acquires excursion train rights Snohomish to 124th on the Redmond Spur Pays Port of Seattle a concession fee based upon freight volume and excursion passenger counts Phase 2Reconveyance to Third Parties Port of Seattle conveys fee interest of most of the corridor south of Woodinville to King County Port of Seattle conveys fee interest of the portion of the Redmond Spur within the city limits to the City of Redmond Port of Seattle conveys fee interest of one mile in the Bellevue area to Sound Transit Port of Seattle conveys a permanent easement to Cascade Water Alliance Port of Seattle conveys a permanent easement to Puget Sound Energy
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