Sonoma-Marin Area Rail Transit District (SMART), a Class III rail carrier, has filed for an exemption to acquire and operate an 87.65-mile rail line from North Coast Railroad Authority (NCRA) in California. The transaction allows SMART to be the freight operator using a noncarrier contract operator and is expected to be completed on or after March 4, 2021. SMART assures that its annual revenues from the deal will not exceed $5 million and that there are no agreements limiting future connections with other carriers. This transaction is mostly exempt from environmental and historic preservation reviews.
Simple Explanation
SMART, a train company, wants to buy and run an 87.65-mile train track from another group in California called NCRA, and they promise their train business won't make more than $5 million a year. They also say that the deal mostly doesn't need to be checked for environmental or historic worries.