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| Fillmore & Western,Transportation Commission Reach Agreement http://www.rypn.org/forums/viewtopic.php?f=1&t=41110 |
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| Author: | J3a-614 [ Fri Sep 08, 2017 10:22 pm ] |
| Post subject: | Fillmore & Western,Transportation Commission Reach Agreement |
A railroad stays a railroad a while longer. http://www.vcstar.com/story/news/local/ ... 634106001/ |
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| Author: | MargaretSPfan [ Sun Sep 10, 2017 9:20 pm ] |
| Post subject: | Re: Fillmore & Western,Transportation Commission Reach Agree |
That is good news! But the site is behind a paywall, so I cannot read what it said. Would you please be so kind as to summarize the article? thanks! |
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| Author: | J3a-614 [ Sun Sep 10, 2017 9:26 pm ] |
| Post subject: | Re: Fillmore & Western,Transportation Commission Reach Agree |
Summary, based on the text, which comes up for me. The Fillmore & Western has at least four more years to operate. Its lease was terminated by the Ventura County Transportation Commission in 2013. This was a 20 year lease negotiated in 2001 for the 32-mile Santa Paula Branch; at the time the lease still had 8 years to run. Fillmore & Western, however, argued the termination was improper. Both sides wound up suing each other in Ventura County Superior Court. From the article: "Commission officials said they terminated the lease in an effort to reverse the millions of dollars the branch line had lost over the years. Fillmore & Western said the corridor's financial woes had been caused by the commission's mismanagement." In spite of the termination, the railroad has continued to operate on the disputed trackage. "Other key terms of the settlement include VCTC paying Fillmore & Western $2.15 million for past maintenance costs and a flat annual maintenance fee of $450,000. "Fillmore & Western representatives and supporters have said the railroad attracts 50,000 to 70,000 visitors a year. They said that if Fillmore & Western went out of business, tourism and the economy throughout the Heritage Valley would take a significant hit." |
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| Author: | Dave Crosby [ Mon Sep 11, 2017 2:08 pm ] |
| Post subject: | Re: Fillmore & Western,Transportation Commission Reach Agree |
The pitfalls of not owning the land under your feet.... I will say, that's a pretty sweet deal the F&W has with the Commission. Usually the railroad pays the landlord for use and covers most of the maintenance costs on their own. Still, I'd start looking for a new home now, instead of 3 years and 11 months from now. |
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