CHICAGO — CN said it has reached a voluntary mitigation agreement (VMA) with the Village of Ford Heights, Ill., located approximately 26 miles south of downtown Chicago, regarding its acquisition of the Elgin, Jolietand Eastern Railway Company (EJ&E).
With this agreement, CN has VMAs with 25 of the 33 communities along the EJ&E in Illinois andIndiana.
CN, which completed its purchase of the EJ&E on Jan. 31, 2009, will provide Ford Heights funding for industrial and economic development, as well as for communications, emergency response training and recreational facilities.
“CN is pleased to have reached this negotiated settlement with Ford Heights,” Jim Vena, CN senior vice-president, Southern Region, said. “The bulk of the funding under this agreement is earmarked to help the village identify and market industrial properties that can be served by rail. We hope this economic development support will prove to be mutually beneficial to the village and CN in the years ahead.”
