SOUTH BAY : L.A., Long Beach Agree on Alameda Corridor Project
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Four months after encountering a financial roadblock, the proposed $1.8-billion Alameda Corridor transportation project linking the Civic Center with the ports of Los Angeles and Long Beach appears back on track.
At a news conference set for this morning, officials of both cities and Southern Pacific Transportation Co. are expected to announce a tentative agreement that calls for the railroad to sell for $240 million the 20 miles of track needed for the rail and truck corridor.
The amount is $20 million less than the asking price that led Los Angeles officials to balk at the long-discussed deal in August.
Those familiar with the negotiations said the issue of environmental cleanup also has been resolved.
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