by Cowford
While this is a rough estimation and doesn't factor in depreciation of govt. capital infusions, etc, it's a poignant reminder of the lost value of this property over the last 11 years. (Jump in if I'm missing any numbers here or have them wrong):
Investment
2003 property that became MMA purchased for $55 million
200? $34 million FRA loan secured for Maine track upgrades
2005? $10 million Canadian track rehab grants
Various years $7-10 million + MDOT grants
Invested in MMA system since 2003-2013, not including post-purchase private annual capital investment: $110 million plus or minus
Proceeds
2010 section sold to MDOT: $20 million
Mad-St Leonard section sold to Irving: undisclosed (call it $2 million???)
St Rosalie abandonment and sale: undisclosed (did a sale go through? $1 million or less???)
Fortress purchase of $15.85 million ($14.25 million + $1.6 million in motive power that was pulled from deal)
$110 - 23 - 15.85 = $71 million in value lost
Investment
2003 property that became MMA purchased for $55 million
200? $34 million FRA loan secured for Maine track upgrades
2005? $10 million Canadian track rehab grants
Various years $7-10 million + MDOT grants
Invested in MMA system since 2003-2013, not including post-purchase private annual capital investment: $110 million plus or minus
Proceeds
2010 section sold to MDOT: $20 million
Mad-St Leonard section sold to Irving: undisclosed (call it $2 million???)
St Rosalie abandonment and sale: undisclosed (did a sale go through? $1 million or less???)
Fortress purchase of $15.85 million ($14.25 million + $1.6 million in motive power that was pulled from deal)
$110 - 23 - 15.85 = $71 million in value lost