From the Smoky Lake Signal, January 9, 2002

CN Land turned over to Part 9 Company

CN has notified the nine local municipalities taking over the Waskatenau to Cold Lake railway right-of-way that the rail company no longer needs a clause in their transfer of land agreement which would allow them to take back the land to rebuild a rail line, within five years if they wanted to. The rail company decided instead to cash in the receipt for the donation issued for the full appraised value of the lands, for tax purposes, before the end of the year.

The land was assessed at $8,400,000, over three times what the municipalities had expected. Because the rail company wanted to cash in the receipt for the donation of the 2,000 acres now, the municipalities will get the title to the land now, instead of in five years.

County Councillor Dareld Cholak, the county's representative on the Part 9 Company which is taking over the railway land for the municipalities, said the only way now that CN can build a railway is if they want to buy the land back from the municipalities at assessed value.

The Coronado and Bonnyville subdivision are now no longer railway right-of-ways.
CN, in the deal, has leased back from Part 9 Company any contaminated land, in order to clean it over time. CN has a 21 year lease on that portion of the land.

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