Lease Allows Amtrak to Occupy Portion of First Station in New York State Since 2002
Today, Mayor Paul A. Dyster and Amtrak officials announced the completion of a lease agreement regarding the terms of lease for space in the new Niagara Falls Rail Station at the Niagara Falls Intermodal Transportation Center. The completed agreement strikes a balance between maintenance and operational costs shared by the city, Amtrak and additional entities using the station on a pro-rata basis based on the square footage. The Niagara Falls Station is the first new station to open in New York State since Albany-Rensselaer opened in 2002.
Mayor Paul Dyster said, “Decades in the making and long-overdue, this state-of-the-art facility provides the residents of the City of Niagara Falls and Western New York transit-oriented development they deserve and an international gateway to our city that they can be proud of. We are proud to announce a completed lease agreement with our partners at Amtrak and look forward to the start of service; the prospect of which would not be possible without our partners in state and federal government including Senator Schumer, Congresswoman Slaughter and Congressman Higgins and their unwavering support of this project.”
“It is terrific news that Amtrak and Niagara Falls were able to finalize a lease agreement to seal the deal and get these trains rolling to and from Niagara Falls,” said US Senator Chuck Schumer. “With hundreds of thousands of visitors flocking to Niagara Falls every year, the Amtrak station will bring transportation activity and commerce to the region and lay the groundwork for economic and job growth in the short and long term.”
As part of the agreement, Amtrak will be leasing 29,360 square feet, or 63% of the 46,430 square foot, two-story station within the Niagara Falls Intermodal Transportation Center. In addition to Amtrak and CBP station operations, the Niagara Falls Station and Intermodal Transportation also includes 2,880 square feet that will be leased to accommodate the Niagara Falls Underground Railroad Heritage Center and Museum. Another 4,650 square feet will be leased to a future commercial retail tenant.
Congresswoman Louise Slaughter said, “I’m pleased that lease negotiations for this important project have reached a successful conclusion. I am proud to have secured $16.5 million in federal funding to make this project a reality. During a recent visit, I was impressed with this new and modern facility, which will bring tremendous benefits to the residents of Niagara Falls and Western New York.”
“Niagara Falls is one of the greatest tourist destinations in the world and was in need of a transportation center that better welcomes today’s visitors,” said Congressman Brian Higgins. “This new train station serves as a connection point sitting in close proximity to the international border, transferring people to our new Discover Niagara shuttle for exploration of our regional cultural destinations and linking people to this amazing city and its awe inspiring falls.”
“The City of Niagara Falls is proud to increase its infrastructure by opening a new train station,” said Andy Touma, Niagara Falls City Council Chair. “The new station will service local residents and tourists for years to come. We look forward to a successful partnership with Amtrak moving forward.”
The initial term of this lease shall be for 20 years, with the option to extend the term of the lease for two additional 20 year terms. Reimbursements for a pro rata share of the city’s actual costs and expenses covering on-going operation and maintenance will be paid on a quarterly basis.
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