Council authorizes purchase path of CSX corridor to extend Booker Creek trail with private leasebacks

City staff presented a plan to acquire a downtown CSX rail segment and convert it for trail use, using a sale from CSX to Trust for Public Land (TPL) and a simultaneous sale from TPL to the city. The presentation outlined a negotiated purchase price far below CSX’s earlier appraisal after private partners agreed to 99‑year leasebacks to cover part of the cost.

Under the proposed funding approach, private partners would pay $4,000,000 (Fergs) and $2,000,000 (Ellison) for 99‑year leases on portions of two blocks; the city would need roughly $1,200,000 for acquisition costs and due diligence, proposed to come from town‑west TIF and parking revenue fund balance. Staff emphasized the project advances long‑standing trail plans and the city’s adopted trails master plan, and noted possible environmental assessment and mitigation requirements.

Council members praised the negotiated solution and asked whether further north segments could be pursued; staff said the city holds a right of first refusal for additional segments if CSX ceases servicing certain customers. A public speaker from the Edge Board expressed support. Council approved the resolution unanimously and staff said they expect to close on the property by the end of June if due diligence and agreements with private partners are completed.