Upon approval, a Land Lease Agreement will be forwarded to the applicant for signature. The Land Lease will outline the terms and conditions of the occupancy as well as any insurance requirements. In the event there will be construction activity related to the occupancy, Railroad Protective Insurance may also be required.
The Land Lease Agreement executed on behalf of the Applicant should be returned to the Real Estate Department including the first year rental payment and relevant proof of insurance. Once in receipt of these materials, execution of the Land Lease on behalf of the railroad will be arranged.
For standard processing, the entire process takes between 4-8 weeks. Expedited processing will reduce the processing time to between 1-2 weeks and costs an additional $875.