Federal Register #2026-07852

Lease and Operation Exemption for Tazewell & Peoria Railroad, Inc. and Peoria and Pekin Union Railway Company

This notice from the Surface Transportation Board concerns a lease and operation exemption for Tazewell & Peoria Railroad, Inc. (TZPR) involving rail lines owned by Peoria and Pekin Union Railway Company (PPU). - Government Buyer: - Surface Transportation Board (STB) - Parties Involved: - Tazewell & Peoria Railroad, Inc. (TZPR) - Peoria and Pekin Union Railway Company (PPU) - Scope of Lease: - Approximately 19.3 miles of rail lines, including mainline and connecting tracks - Lease replaces a prior agreement between TZPR and PPU - Lease Terms: - 20-year base term - Two optional five-year extensions - Notable Requirements: - TZPR certifies projected annual revenues will not exceed Class III rail carrier threshold - No interchange commitment included in the lease - No specific products, services, OEMs, or vendors are being procured under this notice

Description

This notice concerns a lease and operation exemption filed by Tazewell & Peoria Railroad, Inc. (TZPR) with the Surface Transportation Board. TZPR seeks to enter into a lease agreement with Peoria and Pekin Union Railway Company to continue leasing and operating approximately 19.3 miles of rail lines. The lease agreement has a term of 20 years with two five-year extensions. TZPR certifies that its projected annual revenues will not exceed the threshold for a Class III rail carrier and that the lease does not include an interchange commitment.

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