Galveston Railroad, L.P.-Lease and Operation Exemption-Board of Trustees of the Galveston Wharves

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Surface Transportation Board [Docket No. FD 36919] Galveston Railroad, L.P. (GVSR), a Class III rail carrier and wholly owned subsidiary of Genesee & Wyoming Inc., has filed a verified notice of exemption under 49 CFR 1150.41 to lease from the Board of Trustees of the Galveston Wharves (GW) and to operate the track in and around the Port of Galveston, Tex. (the Line). [ 1 ] According to the verified notice, Galveston Railway, Inc. (GRI) first received authority to operate the Line in 1987, [ 2 ] and GVSR subsequently acquired GRI. [ 3 ] GVSR and GW entered into a 20-year lease for GVSR to operate the Line in 2006, but GVSR never obtained Board authority to enter into that lease agreement or any subsequent lease amendments. GVSR states that it is now seeking Board authority to enter into a lease amendment (Lease Amendment) extending the term of the 2006 lease by one year with a provision that automatically renews the Lease Amendment for two additional one-year periods. GVSR states that it will continue to operate over the Line as a common carrier. GVSR certifies that the Lease Amendment does not include any interchange commitments. Further, GVSR certifies that its projected annual ( printed page 33285) revenues from this transaction will not exceed $5 million and will not exceed those that would qualify it as a Class III carrier. The earliest this transaction may be consummated is June 17, 2026, the effective date of the exemption (30 days after the verified notice was fil…