[Federal Register Volume 86, Number 10 (Friday, January 15, 2021)]
[Notices]
[Pages 4170-4171]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-00885]


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SURFACE TRANSPORTATION BOARD

[Docket No. FD 36447]


Lake Providence Port Commission--Feeder Line Application--Line of 
Delta Southern Railroad Located in East Carroll and Madison Parishes, 
La.

    On November 12, 2020, Lake Providence Port Commission, a noncarrier 
political subdivision of the State of Louisiana (LPPC or Applicant), 
filed an application under 49 U.S.C. 10907 and 49 CFR part 1151 to 
acquire from Delta Southern Railroad, Inc. (DSR), a 20-mile rail line 
between milepost 471.0 and milepost 491.0, together with various 
ancillary tracks, in East Carroll and Madison Parishes, La. (the Line). 
Concurrently, LPPC and the Southeast Arkansas Economic Development 
District (SEAEDD) filed a petition seeking expedited consideration and 
acceptance of LPPC's application prior to submission of evidence 
regarding the Line's valuation. DSR filed a reply in opposition to the 
petition to expedite on December 2, 2020, and stated that it would 
respond to the application, if accepted, in accordance with the 
procedural schedule set by the Board.
    By decision served December 11, 2020 (December 11 Decision), the 
Board found that the application was substantially complete, except for 
the absence of information pertaining to the net liquidation value 
(NLV) of the Line. December 11 Decision, slip op. at 1.\1\

[[Page 4171]]

The Board waived its regulations at 49 CFR 1151.2(d) and conditionally 
accepted the application, even though the application did not contain 
the required NLV information, subject to Applicant's submission of an 
NLV estimate and supporting information by December 28, 2020. Id. at 1-
2.\2\ The Board also stated that LPPC should submit a copy of any 
contract pertaining to the Line with North Louisiana & Arkansas 
Railroad (NLA), the proposed operator of the Line, as soon as the 
parties reach an agreement. Id. at 6 n.17.
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    \1\ Section 1151.3(a)(4) requires an applicant to submit 
estimates and supporting information for both the NLV and the going 
concern value (GCV) of the line. Here, however, LPPC asserts that 
the GCV of the Line is $0 so only an NLV estimate was required for 
purposes of making the application complete. See December 11 
Decision, slip op. at 5 & n.14 (also noting that if the application 
were accepted, DSR would have the opportunity to provide evidence 
and argument to counter LPPC's assertion that the Line has no GCV).
    \2\ The Board stated that, upon receipt of the NLV evidence by 
the specified date, it would publish notice of acceptance of the 
application and a procedural schedule in the Federal Register. 
December 11 Decision, slip op. at 2.
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    On December 22, 2020, LPPC submitted an estimate of the NLV and 
supporting evidence, along with the lease agreement between LPPC and 
NLA that would govern NLA's operation of the Line.\3\ Accordingly, the 
Board will accept the application and will adopt the following 
procedural schedule as set out at 49 CFR 1151.2:
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    \3\ On December 22, 2020, LPPC filed both public and 
confidential versions of the agreement. On December 28, 2020, LPPC 
filed an unredacted public version of the agreement previously filed 
under seal.
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    <bullet> Competing applications by other parties seeking to acquire 
all or any portion of the Line are due by February 16, 2021.
    <bullet> Verified statements and comments addressing both the 
initial and competing applications must be filed by March 16, 2021.
    <bullet> Verified replies by applicants and other interested 
parties must be filed by April 5, 2021.
    It is ordered:
    1. LPPC's feeder line application is accepted and notice will be 
published in the Federal Register.
    2. The above schedule will govern this proceeding.
    3. This decision is effective on its service date.

    Decided Date: January 11, 2021.

    By the Board, Allison C. Davis, Director, Office of Proceedings.
Aretha Laws-Byrum,
Clearance Clerk.
[FR Doc. 2021-00885 Filed 1-14-21; 8:45 am]
BILLING CODE 4915-01-P