Salt Lake Garfield and Western Rail said the Inland Port's competing bid is nearly twice their own, and five times what SLGW appraised the LDS Church-owned property to be worth. SLGW could lose out on a $14 million federal grant as a result.
but did not provide any public information about the purchase in advance, including parcel numbers, the site’s location, or how it would benefit the port.in his letter, which The Salt Lake Tribune obtained through a public records request.
It is unclear why the property would hold much value to anyone but SLGW, since it is essentially landlocked by the company’s railroad to the south and Interstate 80 to the north. Last month, Patriot Rail commissioned an appraisal that valued the property at $3.7 million with “adequate access” and $2.2 million without access.
SLGW apparently tried negotiating when it learned of the port authority’s plans. In April, SLGW managers suggested buying an easement for $5.4 million, according to the letter, with the port authority retaining ownership of the land in case the company ceased operations. Asked for comment on the purchase price for the property and contradictions over how many bidders were involved, a public relations person for the port authority said it would not comment on issues relating to pending litigation.
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