City of Reading Agenda Packet 2026-05-26
City moves to sell Mount Penn parcel to Norfolk Southern
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Description
Reading City Council is considering an ordinance to authorize sale of a 0.3-acre unimproved parcel on Mount Penn to Norfolk Southern Railway Company for at least $10,000 under a detailed option agreement. The land will support a microwave tower and includes a one-year option term with potential extension and defined closing conditions.
Contract Details
Contract Amount
$10,000.00
Vendor
NORFOLK SOUTHERN RAILWAY COMPANY
Agency
City of Reading, PA
Contract Type
FACILITIES
Document Date
May 26, 2026
Contract Term
Option Agreement: initial 1-year option period with right to extend for an additional 1 year for $1,000; sale closing within 180 days of exercise
Renewal Date
2027-11-04
Renewal Info
Option Agreement grants a one-year exclusive option to purchase with an additional one-year extension available upon $1,000 payment; if exercised, the option converts into a sales contract with closing within 180 days.
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