Terms of railroad sale
Carbon County has released the terms of the $4.7 million sale of its Panther Valley line to Reading Blue Mountain and Northern Railroad:
• Payment: Under the agreement, Andy Muller pays $2 million at the time of closing, and $125,000 a year for the next eight years. Of that cash amount, Lansford will receive 25% of the profit.
In addition, Muller will make $1 million in track repairs and improvements as part of the agreement, as well as invest at least $700,000 in repairing the current driveway and pedestrian crossing at the county parking lot in Jim Thorpe with active warning and control devices for vehicles and pedestrians; as well as construct a new pedestrian crossing near the pedestrian bridge.
• What is included: All fixtures, structures, buildings, facilities, track, and land with the line will now be owned by the railroad.
• What isn’t included: Carbon County retains the county parking lot, as well Josiah White Park and the Old Mauch Chunk Train Station.
• Reading and Northern will still continue to rent space inside the train station under the terms of the lease from Aug. 19, 1986.
• The future of passenger: Reading and Northern must continue to offer passenger excursion services that originate from Jim Thorpe for a period no less than 10 years from the closing date.
• Sidewalk improvements: Reading and Northern will cooperate with Carbon and the Pennsylvania Department of Transportation to facilitate the completion of safety improvements to the sidewalk along Route 209.
• Easements: The Nesquehoning Borough Authority will remain in order for Nesquehoning to exercise its existing rights under the license agreements with Carbon and Schuylkill Railroad.
• Public infrastructure: Reading and Northern will cooperate with government entities, including Nesquehoning, Jim Thorpe and PennDOT, in connection with any future requests to access, cross or use the property in connection with existing or future public infrastructure projects.