May 7th, 2008
RTD Buying Unneeded land to Satisfy Union Pacific Deal
From the Denver Post:
RTD is paying nearly $15 million for about 300 acres of Weld County farmland it doesn’t need. The Regional Transportation District arranged to buy the land as part of its proposed deal to move key Union Pacific Railroad operations from Denver to Fort Lupton.
RTD planned to use vacated UP property in central Denver for the FasTracks train to Denver International Airport and a commuter-rail maintenance center. To get a head start on the possible relocation, Union Pacific started acquiring key properties last year in the Fort Lupton area, with RTD pledging to reimburse the freight railroad for the purchases.
In January, RTD said a UP study put the full cost of the relocation project at about $700 million — more than RTD could afford. That killed the relocation. Read the rest…
