City of Reading Committee of the Whole Agenda May 18 2026
City Authorizes Land Sale to Norfolk Southern Railway
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Description
The City of Reading plans to sell an unimproved Mount Penn parcel to Norfolk Southern Railway Company for at least $10,000 under an Option Agreement granting a one-year exclusive option, extendable for one additional year. The ordinance authorizes the Mayor to execute the sales and option documents subject to the agreement’s title, environmental, and closing conditions.
Contract Details
Contract Amount
$10,000.00 plus $1.00 option payment and optional $1,000.00 extension payment
Vendor
NORFOLK SOUTHERN RAILWAY COMPANY
Agency
City of Reading, PA
Contract Type
OTHER
Document Date
May 18, 2026
Contract Term
One (1) year option period from execution, with right to extend one (1) additional year
Renewal Info
Railroad may extend the initial one-year option period for an additional one-year term by paying a $1,000 Option Extension Payment; no further renewals are specified.
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