CN said that it has reached an agreement with the City of Joliet regarding CN's proposed acquisition of the major portion of the Elgin, Joliet & Eastern Railway Company (EJ&E). The agreement resolves the outstanding concerns the City of Joliet has related to quiet zones, operations, and communications surrounding the transaction.
The conditions of the negotiations are contingent upon approval of CN's proposal to acquire control of the EJ&E, which is being considered by the federal Surface Transportation Board (STB). As stated in STB's Draft Environmental Impact Statement, the Board has encouraged voluntary agreements between CN and communities.
'We believe this will be the first of many agreements between CN and the communities along the EJ&E line that are impacted by this transaction,' stated Gordon T. Trafton Senior Vice-President, Southern Region. 'We have consistently been willing to work with and address the concerns of communities across the region. We believe this agreement with Joliet is evidence that these concerns can be mitigated.'
CN has been actively engaged in the environmental review process and will participate in the public hearings in August and September. CN also is actively working with other affected communities along the EJ&E line in an effort to reach voluntary mitigation agreements addressing reasonable environmental concerns associated with increased train traffic on the EJ&E.
Upon approval of the agreement and final approval of the acquisition, CN will fulfill its commitments to the City of Joliet contained in this agreement within a three-year period. These terms include significant investment in track improvements and roadway features along the route through Joliet.
'The purchase of the EJ&E will have far-reaching economic and transportation benefits to the Chicago region and the nation, and we are eager to continue our negotiations with other communities,' Trafton said.
