Central New York Railroad Corporation (CNY) is a small railroad company that continues to lease and operate a rail line from Norfolk Southern Railway Company, covering about 123.1 miles between New York and Pennsylvania. This notice states that CNY plans to amend their lease to extend the term and adjust renewal conditions, while keeping all other original terms in place. CNY assures that the transaction will not make it a larger railroad and estimates their earnings won't go beyond $5 million a year. The Surface Transportation Board will allow this change to be effective from April 12, 2025, unless any misleading information is found or if objections are filed in time.
Simple Explanation
Central New York Railroad Corporation is going to keep using and taking care of a train track that they borrow from another train company, but they want to change a few things about their agreement without making it any harder for them or growing too big. They promise it won't earn them more than $5 million each year, and they'll start the new plan on April 12, 2025, if nobody has a problem with it.