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Sioux Falls Inks $27.3M Deal To Purchase Downtown Rail Yard

Associated Press0

SIOUX FALLS, S.D. (AP) — Sioux Falls plans to pay $27.3 million to BNSF Railway in exchange for about 10 acres of a downtown rail yard.

City officials and business leaders say the deal announced Wednesday will usher in a new phase of development in the heart of downtown.

Mayor Mike Huether says negotiations have spanned more than a decade between Sioux Falls and BNSF for a portion of its downtown rail system.

The Argus Leader reports ( ) the deal uses $40 million in federal funding secured by Sens. John Thune and Tim Johnson in 2005.

Officials say the agreement is expected to spur as much as $100 million in new downtown development.

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Information from: Argus Leader,

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