80 FR 66969 - SteelRiver Infrastructure Fund North America LP, SteelRiver Devco Holdings LLC and SR Transportation Holdings LLC-Control Exemption-Georgia Northeastern Railroad Company, Inc. and Blue Ridge Scenic Excursions, Inc.
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board Federal Register Volume 80, Issue 210 (October 30, 2015)
Surface Transportation Board
Federal Register Volume 80, Issue 210 (October 30, 2015)
| Page Range | 66969-66970 | |
| FR Document | 2015-27731 |
[Federal Register Volume 80, Number 210 (Friday, October 30, 2015)] [Notices] [Pages 66969-66970] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27731] ----------------------------------------------------------------------- DEPARTMENT OF TRANSPORTATION Surface Transportation Board [Docket No. FD 35967] SteelRiver Infrastructure Fund North America LP, SteelRiver Devco Holdings LLC and SR Transportation Holdings LLC--Control Exemption-- Georgia Northeastern Railroad Company, Inc. and Blue Ridge Scenic Excursions, Inc. SteelRiver Infrastructure Fund North America LP (SteelRiver), SteelRiver Devco Holdings LLC (Devco), and SR Transportation Holdings LLC (SRTH) (collectively, Applicants), all noncarriers, have jointly filed a verified notice of exemption under 49 CFR 1180.2(d)(2) to acquire control of Georgia Northeastern Railroad Company, Inc. (GNRR) and its subsidiary, Blue Ridge Scenic Excursions, Inc. (BRSE).\1\ --------------------------------------------------------------------------- \1\ Applicants seek to acquire control of GNRR, a Class III carrier, and BRSE, which, according to Applicants, ``operates a scenic excursion train service over track leased from GNRR during March through December between Blue Ridge and Copperhill, Ga.'' BRSE does not appear to be a Class III carrier, and, if it is not, the exemption will apply only to GNRR. --------------------------------------------------------------------------- Applicants state that SRTH intends to acquire the shares of GNRR on or after November 15, 2015, the effective date of the exemption (30 days after the verified notice of exemption was filed). SRTH is owned by Devco, which in turn is owned by SteelRiver. Devco and SRTH do not control any carriers. SteelRiver is owned by a diverse group of U.S. and foreign pension funds, insurance companies, and other investors. SteelRiver controls PRC Funding LLC, a noncarrier, which controls Patriot Funding LLC, a noncarrier, which controls PRC Holdings LLC, a noncarrier, which controls PRC Midco LLC, a noncarrier, which controls Patriot Rail Company LLC, (Patriot), a noncarrier. Patriot controls 13 Class III railroads (collectively, the Subsidiary Railroads). For a complete list of these rail carriers, and the states in which they operate, see the notice of exemption filed on October 16, 2015, in this proceeding. The notice is available on the Board's web at WWW.STB.DOT.GOV. GNRR operates approximately 105.92 miles of railroad between Marietta and Mineral Bluff, Ga. GNRR owns about 48 miles, leases about 32.74 miles from the CSX Transporation, Inc., and leases about 25.18 miles from the Georgia Department of Transportation, including industrial, spur and other track. According to Applicants, SRTH entered into a Stock Purchase Agreement (the Agreement) \2\ dated October 16, 2015, with GNRR; BRSE; Wilds L. Pierce; Kevin F. O'Gara, Sr.; Carolyn T. McAfee; Estate of Charles C. Schoen, III; Michael L. Pierce; Stephen K. Slayden; Kevin S. Slayden; The John Randolph Seckman Residuary Trust; Donnie L. Plumley; James A. Day; B. Thomas Lockett; and Joy F. Hardin. Under the Agreement, SRTH will acquire all of the common stock of GNRR. The notice therefore seeks exemption for SRTH to acquire control, and for Devco and SteelRiver to indirectly acquire control, of GNRR and BRSE. --------------------------------------------------------------------------- \2\ A redacted version of the Agreement was filed with the notice of exemption. Applicants simultaneously filed a motion for protective order to protect the confidential and commercially sensitive information contained in the unredacted version of the Agreement, which Applicants submitted under seal. That motion will be addressed in a separate decision. --------------------------------------------------------------------------- Applicants state that: (1) The Subsidiary Railroads will not connect with GNRR and BRSE; (2) the proposed transaction is not part of a series of anticipated transactions that would connect the railroads with each other or [[Page 66970]] with any railroads in the corporate family; and (3) the proposed transaction does not involve a Class I rail carrier. The proposed transaction is therefore exempt from the prior approval requirements of 49 U.S.C. 11323 pursuant to 49 CFR 1180.2(d)(2). Applicants state that the proposed transaction is intended to promote the investment objectives of SteelRiver, Devco, and SRTH and to improve the efficiency, financial strength, and ability of GNRR and BRSE to meet the needs of shippers. There are no current plans to make substantial changes in the day-to-day operations of GNRR or BRSE, to sell GNRR or BRSE, or to abandon rail lines in connection with the proposed transaction. Applicants state that they do not contemplate making significant changes in the current workforces at GNRR or BRSE. Under 49 U.S.C. 10502(g), the Board may not use its exemption authority to relieve a rail carrier of its statutory obligation to protect the interests of its employees. Section 11326(c), however, does not provide for labor protection for transactions under Sec. Sec. 11324 and 11325 that involve only Class III rail carriers. Accordingly, the Board may not impose labor protective conditions here, because all of the carriers involved are Class III carriers. If the verified notice contains false or misleading information, the exemption is void ab initio. Petitions to revoke the exemption under 49 U.S.C. 10502(d) may be filed at any time. The filing of a petition to revoke will not automatically stay the effectiveness of the exemption. Petitions to stay must be filed by November 6, 2015 (at least seven days before the exemption becomes effective). An original and 10 copies of all pleadings, referring to Docket No. FD 35967 must be filed with the Surface Transportation Board, 395 E Street SW., Washington, DC 20423-0001. In addition, a copy of each pleading must be served on: Louis E. Gitomer, Esq., Law Offices of Louis E. Gitomer, LLC, 600 Baltimore Avenue, Suite 301, Towson, MD 21204. Board decisions and notices are available on our Web site at: ``WWW.STB.DOT.GOV''. Decided: October 27, 2015. By the Board, Rachel D. Campbell, Director, Office of Proceedings. Tia Delano, Clearance Clerk. [FR Doc. 2015-27731 Filed 10-29-15; 8:45 am] BILLING CODE 4915-01-P
![Federal Register / Vol. 80, No. 210 / Friday, October 30, 2015 / Notices 66969
Respondents: Regulated railroads that When submitting comments, please Applicants state that SRTH intends to
did not submit carload waybill sample refer to ‘‘Waybill Compliance Survey.’’ acquire the shares of GNRR on or after
information to the STB in the previous For further information regarding this November 15, 2015, the effective date of
year. collection or to obtain a copy of this the exemption (30 days after the verified
Number of Respondents: 523. collection form, the ‘‘Annual Waybill notice of exemption was filed).
Estimated Time per Response: .5 Compliance Survey,’’ contact Pedro SRTH is owned by Devco, which in
hours. Ramirez at (202) 245–0333 or at turn is owned by SteelRiver. Devco and
Frequency: Annually. pedro.ramirez@stb.dot.gov. [Assistance SRTH do not control any carriers.
Total Burden Hours (annually for the hearing impaired is available SteelRiver is owned by a diverse group
including all respondents): 60. through the Federal Information Relay of U.S. and foreign pension funds,
Total ‘‘Non-hour Burden’’ Cost: None Service (FIRS) at 1–800–877–8339.] insurance companies, and other
identified. Filings are submitted SUPPLEMENTARY INFORMATION: Under the investors. SteelRiver controls PRC
electronically to the Board. PRA, a federal agency that conducts or Funding LLC, a noncarrier, which
Needs and Uses: Under the Interstate sponsors a collection of information controls Patriot Funding LLC, a
Commerce Act, as amended by the ICC must display a currently valid OMB noncarrier, which controls PRC
Termination Act of 1995, Pub. L. 104– control number. A collection of Holdings LLC, a noncarrier, which
88, 109 Stat. 803 (1995), the Board is information, which is defined in 44 controls PRC Midco LLC, a noncarrier,
responsible for the economic regulation U.S.C. 3502(3) and 5 CFR 1320.3(c), which controls Patriot Rail Company
of common carrier rail transportation, includes agency requirements that LLC, (Patriot), a noncarrier. Patriot
including the collection and persons submit reports, keep records, or controls 13 Class III railroads
administration of the Carload Waybill provide information to the agency, third (collectively, the Subsidiary Railroads).
Sample. Under 49 CFR part 1244, a parties, or the public. Under For a complete list of these rail carriers,
railroad terminating 4,500 or more § 3506(c)(2)(A) of the PRA, federal and the states in which they operate, see
carloads, or terminating at least 5% of agencies are required to provide, prior the notice of exemption filed on October
the total revenue carloads that terminate to an agency’s submitting a collection to 16, 2015, in this proceeding. The notice
in a particular state, in any of the three OMB for approval, a 60-day notice and is available on the Board’s web at
preceding years is required to file comment period through publication in WWW.STB.DOT.GOV.
carload waybill sample information GNRR operates approximately 105.92
the Federal Register concerning each
(Waybill Sample) for all line-haul miles of railroad between Marietta and
proposed collection of information,
revenue waybills terminating on its Mineral Bluff, Ga. GNRR owns about 48
including each proposed extension of an miles, leases about 32.74 miles from the
lines. (The Waybill Sample collection is existing collection of information.
approved under OMB Control Number CSX Transporation, Inc., and leases
Dated: October 27, 2015. about 25.18 miles from the Georgia
2140–0015, which expires on June 30,
2017.) The information in the Waybill Jeffrey Herzig, Department of Transportation, including
Sample is used to monitor traffic flows Clearance Clerk. industrial, spur and other track.
and rate trends in the industry. [FR Doc. 2015–27726 Filed 10–29–15; 8:45 am] According to Applicants, SRTH
In order to determine whether any of BILLING CODE 4915–01–P
entered into a Stock Purchase
the surveyed railroads should be filing Agreement (the Agreement) 2 dated
a Waybill Sample, the Board needs to October 16, 2015, with GNRR; BRSE;
collect the information in the Waybill DEPARTMENT OF TRANSPORTATION Wilds L. Pierce; Kevin F. O’Gara, Sr.;
Compliance Survey—information on the Carolyn T. McAfee; Estate of Charles C.
Surface Transportation Board Schoen, III; Michael L. Pierce; Stephen
number of carloads of traffic terminated
K. Slayden; Kevin S. Slayden; The John
each year by U.S. railroads—from [Docket No. FD 35967]
Randolph Seckman Residuary Trust;
railroads that are not filing a Waybill
SteelRiver Infrastructure Fund North Donnie L. Plumley; James A. Day; B.
Sample. In addition, information
America LP, SteelRiver Devco Thomas Lockett; and Joy F. Hardin.
collected in the Waybill Compliance
Holdings LLC and SR Transportation Under the Agreement, SRTH will
Survey, on a voluntary basis, about the
Holdings LLC—Control Exemption— acquire all of the common stock of
total operating revenue of each railroad
Georgia Northeastern Railroad GNRR. The notice therefore seeks
helps to determine whether respondents
Company, Inc. and Blue Ridge Scenic exemption for SRTH to acquire control,
are subject to other statutory or
Excursions, Inc. and for Devco and SteelRiver to
regulatory requirements. Because many indirectly acquire control, of GNRR and
of the Board’s reporting requirements SteelRiver Infrastructure Fund North BRSE.
apply only to railroads with large America LP (SteelRiver), SteelRiver Applicants state that: (1) The
operating revenues, accurate Devco Holdings LLC (Devco), and SR Subsidiary Railroads will not connect
determinations regarding the size of a Transportation Holdings LLC (SRTH) with GNRR and BRSE; (2) the proposed
railroad’s operating revenues help the (collectively, Applicants), all transaction is not part of a series of
Board minimize the reporting burden noncarriers, have jointly filed a verified anticipated transactions that would
for smaller railroads. The Board has notice of exemption under 49 CFR connect the railroads with each other or
authority to collect this information 1180.2(d)(2) to acquire control of
under 49 U.S.C. 11144–45, and under 49 Georgia Northeastern Railroad Copperhill, Ga.’’ BRSE does not appear to be a Class
CFR 1244.2. Company, Inc. (GNRR) and its III carrier, and, if it is not, the exemption will apply
DATES: Comments on this information only to GNRR.
tkelley on DSK3SPTVN1PROD with NOTICES
subsidiary, Blue Ridge Scenic 2 A redacted version of the Agreement was filed
collection should be submitted by Excursions, Inc. (BRSE).1 with the notice of exemption. Applicants
December 29, 2015. simultaneously filed a motion for protective order
1 Applicants seek to acquire control of GNRR, a to protect the confidential and commercially
ADDRESSES: Direct all comments to
Class III carrier, and BRSE, which, according to sensitive information contained in the unredacted
Chris Oehrle, Surface Transportation Applicants, ‘‘operates a scenic excursion train version of the Agreement, which Applicants
Board, 395 E Street SW., Washington, service over track leased from GNRR during March submitted under seal. That motion will be
DC 20423–0001, or to PRA@stb.dot.gov. through December between Blue Ridge and addressed in a separate decision.
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![66970 Federal Register / Vol. 80, No. 210 / Friday, October 30, 2015 / Notices
with any railroads in the corporate DEPARTMENT OF TRANSPORTATION Businesses (8a, women-owned, small
family; and (3) the proposed transaction disadvantaged, HUBZone, veteran
does not involve a Class I rail carrier. Office of the Secretary owned, and service disabled veteran
The proposed transaction is therefore [Docket No. DOT–OST–2015–0211] owned) the opportunity to obtain short
exempt from the prior approval term working capital at variable interest
requirements of 49 U.S.C. 11323 60-Day Notice of Request for Renewal rates for transportation-related projects.
pursuant to 49 CFR 1180.2(d)(2). of a Previously Approved Collection The STLP provides Participating
Lenders (PLs) a guarantee, up to 75%,
Applicants state that the proposed AGENCY: Office of the Secretary (OST), on a revolving line of credit up to a
transaction is intended to promote the Department of Transportation $750,000 maximum. These loans are
investment objectives of SteelRiver, (Department) or (DOT). provided through lenders that serve as
Devco, and SRTH and to improve the
ACTION: Notice and request for STLP PLs. The term on the line of credit
efficiency, financial strength, and ability
comments. is up to one (1) year, which may be
of GNRR and BRSE to meet the needs renewed for five (5) years. A potential
of shippers. There are no current plans SUMMARY: The Office of the Secretary, or renewal STLP participant must
to make substantial changes in the day- Office of Small and Disadvantaged submit a guaranteed loan application
to-day operations of GNRR or BRSE, to Business Utilization (OSDBU), invites package. The guaranteed loan
sell GNRR or BRSE, or to abandon rail public comments about our intention to application includes the STLP
lines in connection with the proposed request the Office of Management and application, checklist, and instructions.
transaction. Applicants state that they Budget’s (OMB) approval to renew a Respondents: Certified Disadvantaged
do not contemplate making significant collection. This collection renewal Business Enterprises (DBEs) and other
changes in the current workforces at request includes one Short Term certified Small Businesses (8a, women-
GNRR or BRSE. Lending Program (STLP) application owned, small disadvantaged, HUBZone,
Under 49 U.S.C. 10502(g), the Board used for both new loan guarantee veteran owned, and service disabled
may not use its exemption authority to applicants and renewal loan guarantee veteran owned) interested in financing
relieve a rail carrier of its statutory applicants. The information collected in their transportation-related contracts.
obligation to protect the interests of its the STLP application will determine the DOT Form 2301–1(REV.1): Short
employees. Section 11326(c), however, applicant’s eligibility and is necessary Term Lending Program Application for
does not provide for labor protection for to approve or deny a loan. We are Loan Guarantee: A potential or renewal
transactions under §§ 11324 and 11325 required to publish this notice in the STLP participant must submit a
that involve only Class III rail carriers. Federal Register by the Paperwork guaranteed loan application package.
Accordingly, the Board may not impose Reduction Act of 1995, Public Law 104– The guaranteed loan application
labor protective conditions here, 13. includes the STLP application and
because all of the carriers involved are DATES: Written comments should be supporting documentation to be
Class III carriers. submitted by December 29, 2015. collected from the checklist in the
ADDRESSES: You may submit your
application. The application may be
If the verified notice contains false or obtained directly from OSDBU, the
misleading information, the exemption comments identified by DOT–OST–
2015–0211 by any of the following Regional Small Business Transportation
is void ab initio. Petitions to revoke the Resource Centers, from a PL, or online
exemption under 49 U.S.C. 10502(d) methods:
• Federal eRulemaking Portal: Go to from the agency’s Web site, currently at
may be filed at any time. The filing of http://www.transportation.gov/osdbu/
a petition to revoke will not http://www.regulations.gov/. Follow the
online instructions for submitting financial-assistance/short-term-lending-
automatically stay the effectiveness of program.
the exemption. Petitions to stay must be comments.
• Fax: 1–202–493–2251. Respondents: Small Businesses, 100.
filed by November 6, 2015 (at least Frequency: Once.
• Mail or Hand Delivery: Docket Estimated Average Burden per
seven days before the exemption
Management Facility, U.S. Department Response: 2 hours.
becomes effective).
of Transportation, 1200 New Jersey Estimated Total Annual Burden
An original and 10 copies of all Avenue SE., West Building, Room W12– Hours: 200 hours.
pleadings, referring to Docket No. FD 140, Washington, DC 20590, between 9 Supporting documentation: Required
35967 must be filed with the Surface a.m. and 5 p.m., Monday through documentation shall include, but is not
Transportation Board, 395 E Street SW., Friday, except on Federal holidays. limited to, the following items:
Washington, DC 20423–0001. In FOR FURTHER INFORMATION CONTACT: John a. Business, trade, or job performance
addition, a copy of each pleading must Ralston, Manager, Financial Assistance reference letters;
be served on: Louis E. Gitomer, Esq., Division, Office of Small and b. DBE or other eligible certification
Law Offices of Louis E. Gitomer, LLC, Disadvantaged Business Utilization, letters;
600 Baltimore Avenue, Suite 301, Office of the Secretary, U.S. Department c. Aging report of receivables and
Towson, MD 21204. of Transportation, 1200 New Jersey payables;
Board decisions and notices are Avenue SE., Washington, DC 20590, d. Business tax returns;
available on our Web site at: Routing Symbol S–40, 202–366–5577 e. Business financial statements;
‘‘WWW.STB.DOT.GOV’’. (phone) or john.ralston@dot.gov (email). f. Personal income tax returns;
g. Personal financial statements;
Decided: October 27, 2015. Supplementary Information: h. Schedule of work in progress
tkelley on DSK3SPTVN1PROD with NOTICES
By the Board, Rachel D. Campbell, Title: Short Term Lending Program (WIP);
Director, Office of Proceedings. Application for a Loan Guarantee. i. Signed and dated copy of
OMB Control No.: 2105–0555. transportation-related contracts;
Tia Delano,
Background: OSDBU’s Short Term j. Business debt schedule;
Clearance Clerk. Lending Program (STLP) offers certified k. Cash flow projections;
[FR Doc. 2015–27731 Filed 10–29–15; 8:45 am] Disadvantaged Business Enterprises l. Owner(s) and key management
BILLING CODE 4915–01–P (DBEs) and other certified Small resumes.
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Document Created: 2015-12-14 15:29:07
Document Modified: 2015-12-14 15:29:07
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 80 FR 66969 |
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