Minutes 03/12/1935 - Laserfiche WebLink

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In the spirit of co-operation, should the Oity agree to a modification of full franchise re~m~ ements, as pro- vided for in the above fi=mutes, by permitting the cross ties, where practicable, tc-remain the ground for the present, the cost is eSti- mated at $8~,8y~00, subdivided as followS: Remove rail's only, adjust bases and restore the pavement to a satisfactory surface in paved areas Gost of removing track structures and smoothing up street surface in dirt areas 71,717.oo Saving to the V.E.P. Oompany $35,833°00 In view of the ~act that the Oity will be called upon to assume certain annual maintenance costs, as outlined elsewhere in ~ ~v T believe it fair that the Oity should share, at least ~l~-N~h-the Traotion'Oompany~ in the saving of $35,833.00, as shown above. This share amounts ~b $17,916.OO.. Should the 0omoany desire to abandon all of its trackage to the Oity~ the Oompany should pay Zo the Oity, as follows: Total cost of removing rails and re- storing pavements as shown in Method (a) 8 , 7 .oo One half of saving to the Traction Oompany by reason of using the method above outlined 17,916.00 $102,790.OO Less amount estimated to be realized by the 0ity from scrap sale of rails 6,800,'00 Total payment~ to ~he Oity $95,99o.oo I~ conclusion, I will, with the approval of you~ 0ompany, recommend to the Oouncil that the Oity accept $~5,~90,00 and title to all tracks in the streets, as well as title to any rights of way and abandoned property which the Oompany may own or on which its tracks a~e now located, within the Oity limits; the track structure to be the property of the Oity of PCmtsmouth ~or such disposition as the Oity may care to make of them. The Company to agree to take down, at its expense, overhead trolley lines and remg~e all poles within.the Oity limits, which are used exclusively for railway services. The arrangement to be contingent upon a type of bus routes and schedules satisfactory to the Oouncil, and a legal obligation on the part of the V.E.Po0ompany to provide the Oity with a satisfactory transporta- tion system. The Oounoil will meet on March 12th~ at which time I trust that I may be in position to make a definite report with recom- mendation." Two conferences were, afterwards, held, resulti.ng i~ a reeuest from the Traction Company that the Oounoil. approve the proposition as embodied in the ~letter, and alee approve and submit an alternate propgsition, providing for the :removal o~ the tr~cks in dirt areas, by the Traction Oompany, the Omty to claim the rails. I~was assumed that this were done~ e~ther the proposition or alternate would be accepted prompt~ly. I therefore recommend that the prooosmtmo , as embodied in my letter, above quote~, be ~dopted, and also, that the alternate propgsitignas outlined below, be ad0pte~; that theI Ole2~ be requested to advise the Virginia Elec~ic ~ Power ~ompany, with- out delay. ALTERNATE PROPOSAL. That the Virginia Electric & Power Oompan~ pay to the Oity of Porfsmouth, the sum of $82,833.00, in cash. That the Traction Oompany, at its expense, remove all ~rack structures from dirt streets and dirt areas of paved streets, and pile the rails at points to be designated by the 'Oity Engineer, along its rights of way, and r%move and carry away all cross ties and spikes; all rails to become the property of the city, for such disposition as it may desire. The cross ties ~nd spikes are ~o remain the property of the Traction Oompany. The Traction O~mpsm_y, at its expense, is to fill, with cinders, to the Oity Engineer's satisfaction, all trenches and !~w places in the streets, as a result of the ~racks having been removed, and to shape the roadways and leave them in good condition for the movement of traffic thereover.