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Mayor Donchess has proposed a partnership between Nashua and a private railroad company, Boston Surface Railroad Company (BSRC), to offer a passenger rail service.
 
Donchess says the service would come at no cost to the city, as it would be a public-private partnership. The commuter line would operate on a for-profit basis after it opens.
 
Last night, Tuesday, October 3, 2017, Vincent Bono, president of BSRC, called it a “first step” and said the city is not on the hook for any financial obligation other than to build its own station.  Click here for the UnionLeader.com article regarding last nights committee meeting.
 
As is stated in the article – there is no plan. It is currently being developed by BSRC.
 
Here is a link to the proposed Memorandum of Understanding (MOU).  This MOU will terminate automatically on September 30, 2018. 361 days and counting.

Please find below the specific responsibilities of both BSRC and the City of Nashua as detailed by the Memorandum of Understanding.

BSRC Responsibilities under this MOU

BSRC shall undertake the following activities:

  • Develop and deliver a plan “The Plan” to establish, enhance or expand passenger rail services between the municipal jurisdictions of the other Parties and other geographically desirable points.
  • “The Plan” shall be agreed to by all parties. Should a party not agree to the Plan, that party shall no longer be bound by this agreement, with the exception of the Non-Disclosure terms of Section VIII.4.
  • Identify public and private funding sources required to implement The Plan.
  • Obtain all Federal Regulatory approval for The Plan.
  • Supply any applicable data to the National Transportation Database, and other Parties, required for the award of Formula Grant Funds.
  • Provide the other Parties with quarterly updates and financial status as requested.
  • Issue the other Parties each 1 percent of the overall Series A Common stock of BRSC, as requested by the other Parties and subject to all applicable laws, rules and regulations concerning the issuance of such stock.
  • Establish a Financial Oversite Committee of five members to oversee financial operations of The Plan, including one representative from each Party.
  • Appoint one member of the Financial Oversite Committee.
  • Work with all Parties to develop a permanent Agreement to memorialize the terms of this MOU.
Nashua Responsibilities under this MOU
 
Nashua shall use commercially reasonable efforts to undertake the following activities:
  • Appoint a member to the Financial Oversite Committee of BRSC.
  • Support the Parties in the promotion and development of the Plan.
  • Identify funding sources to support changes or additions to the Plan required by Nashua.
  • After receiving all necessary approvals, including but not limited to approval of the Nashua Board of Aldermen, provide BRSC with 90% of any BSRC generated Formula Grant Money collected based on BSRC’s fixed guideway miles or spend such revenue as directed by BSRC in accordance with all applicable laws, rules and regulations concerning the receipt and expenditure of such funds.
  • Promote The Plan with public officials at State and Federal Levels.
  • Sponsor BSRC for any identified funding opportunities that would benefit or advance The Plan in NASHUA’S geographic area.
  • Work with all other Parties to develop a permanent Agreement to memorialize the terms of this MOU.