Search Results for keywords:"lease agreement"

Kansas City West Bottoms Railroad, LLC (KCWB) is planning to lease and operate a section of railroad track from Union Pacific Railroad Company in the Kansas City area. The agreement will involve the State Line Yard Tracks and a portion of the KC Metro Big Mary Subdivision between two mileposts. This transaction is pending exemption approval and is part of a larger plan involving Jaguar companies, which intend to manage KCWB as a Class III rail carrier. The transaction is expected to be finalized after March 5, 2025, provided all legal requirements are met and any exemptions are not revoked.

The U.S. Department of Labor's Employee Benefits Security Administration granted an exemption allowing the Associated General Contractors of America, San Diego Chapter, Inc. to lease its training facility to its Apprenticeship and Training Fund under specific conditions. The agreement ensures the Plan pays fair market rent, verified by an independent fiduciary, and that the lease benefits participants by providing effective training facilities. The fiduciary also monitors compliance with the lease terms and any rent increases must adhere to changes in the Consumer Price Index. This exemption is designed to avoid conflicts with ERISA's prohibited transaction rules.

The Lake Providence Port Commission (LPPC), a non-carrier entity in Louisiana, applied to acquire a 20-mile rail line from Delta Southern Railroad. On December 11, 2020, the Board conditionally accepted the application despite missing financial details, requiring these by December 28, 2020. LPPC submitted the necessary information, including a lease agreement with North Louisiana & Arkansas Railroad, enabling the Board to proceed with a scheduling plan for reviewing the application and any competing interests. This decision was finalized to be effective immediately, with public notice to follow in the Federal Register.