COLUMBIANA county Agreement would sell Y&S Railroad for $3M
A subsidiary of a Denver-based midstream company has entered an early agreement with the Columbiana County Port Authority to buy the Youngstown & Southern Railroad for $3 million.
The port authority’s board accepted Mule Sidetracks offer at a meeting last week.
The Surface Transportation Board will need to approve the deal and more than $6,000 in back-taxes must be paid to Beaver County in Pennsylvania.
The Y&S rail line travels along Southern Boulevard in Boardman and continues through Columbiana County to Darlington, Pa.
The majority of the 36-mile line is in Columbiana County.
A previous attempt to sell the line to a subsidiary of Aqua America for a right-of-way to provide water for hydraulic-fracturing operations failed earlier this year and the port authority recently turned to other companies that had expressed interest.
The port authority purchased the line in 2000 and has been trying to find a new owner and operator since.
The Youngstown and Southern Railroad Co. operates the line under a lease agreement, it would continue to do so under the new deal, and MarkWest would assume ownership for an unspecified purpose.
MarkWest gathers, processes and transports natural gas. It has about one month to close the deal.