LEDC OKs company’s release from agreement

A city board voted  Thursday  to release an agreement with one railroad company for improvements to the rail line here.

However, the Levelland Economic Development Corporation  will be paid the loan balance by another company that bought the rail company and sold it to another firm, said Erik  Rejino, interim director of the LEDC.

Last year, the LEDC loaned $500,000 to the West Texas and Lubbock Railway Co. to make rail improvements from mile marker 24 to 29.2.

Those improvements will allow the track to be upgraded from Class 1 to Acceptable status.

Iowa Pacific Holdings LLC, the holding company of WTLC, sold it to Watco Transportation Services, which took control of the shortline railroad this month.

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