HomeMy Public PortalAbout2023-032 Resolution Approving a Community Investment and Settlement Agreement with Canadian Pacific Railway CompanyRESOLUTION 2023-032
RESOLUTION APPROVING A COMMUNITY INVESTMENT
AND SETTLEMENT AGREEMENT WITH CANADIAN PACIFIC
RAILWAY COMPANY
WHEREAS, the City of Riverdale, Iowa ("City") is a municipal corporation, organized and operating under
the laws of the State of Iowa; and,
WHEREAS, Canadian Pacific Railway Company ("CPRC") has proposed a Community Investment and
Settlement Agreement with the City; and,
WHEREAS, CPRC has proposed the following community investments:
• One hundred thousand dollars ($100,000)
• One hundred thousand dollars ($100,000) for the closure of Fenno (crossing no. 865631 R)
• Two hundred and fifty thousand dollars ($250,000) for the construction of a grade -separated
crossing at Fenno or within one -quarter mile thereof; and,
WHEREAS, these community investments are contingent upon the City closing the following private
crossings:
• Private crossing immediately to the west of Fenno leading to Riverside Generating Station
(crossing no. 865632X)
• Easternmost private crossing leading to Arconic plant (crossing no. 865550R)
• Next private Arconic crossing to the west (crossing no. 865633E); and,
WHEREAS, these community investments are additionally contingent upon the City not seeking any
mitigation conditions before the STB as part of the proceedings for Docket No. FD 36500 and the City
not opposing CPRC's acquisition of KCS before the STB in Docket No. FD 36500 or in any other forum;
and,
WHEREAS, future monetary expenses may be incurred by this action in the future but are not known at
this time.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RIVERDALE, IOWA,
THAT:
SECTION 1: The Canadian Pacific Railway Company's proposed Community Investment and Settlement
Agreement is hereby approved, and the Mayor is directed to execute said agreement.
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 (563) 355-2511 I www.riverdaleia.org
Passed and approved this 9th day of May 2023.
APPROVED: _ ATTEST:
Anthony Heddlesten, Mayor
City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 1 (563) 355-2511 I www.riverdaleia.org