WILKES-BARRE, PA — The Luzerne County Council voted in a majority decision during a special meeting Wednesday to sell the county’s short-line railroad network to Port Clinton-based Reading and Northern Railroad.
The council’s vote formally affirms a recommendation passed Tuesday by the Luzerne County Redevelopment Authority Board and its affiliated Rail Corp.
Under the approved $10 million acquisition package, Reading and Northern will pay $7 million in cash at closing and commit $3 million over the next three years toward specific track-related rehabilitation services. In addition to expanded freight operations, the regional carrier plans to establish recreational passenger-train excursions operating from a new depot in downtown Wilkes-Barre.
Along with approving the purchase, County Council adopted a formal resolution Wednesday authorizing the county manager to negotiate the final sales agreement and associated closing documentation between the county, the redevelopment authority, and the Rail Corp. to complete the transaction ahead of an upcoming court-mandated settlement deadline.
