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KENNETH YOUNG
DIRECTOR OF RAIL VALUATION SERVICES
PROFESSIONAL QUALIFICATIONS


EXPERIENCE

Mr. Young is the owner and Director of Rail Valuation Services for Kenneth Young & Associates.
His responsibilities include review and technical appraisal for valuation studies of track structure, real estate, and rolling stock/maintenance-of-way equipment. In addition he is responsible for all inquiries regarding governmental or other judicial reviews of railroad appraisal issues.

Mr. Young’s work history includes over thirty years experience in the construction and real estate valuation industry. This experience includes construction cost estimating, supervising construction projects, and the appraisal of real estate and track structure assets for several Class 1 railroads, regional railroads and short line operators. Engagements include appraising railroad rights-of-way for donation purposes, estimating net liquidation values for abandonment proceedings or loan applications, and the determination fair market value of branch lines regarding their sale to short line operators. Other appraisal engagements include replacement cost studies for track infrastructure and expert witness testimony regarding valuation issues for railroad bankruptcy proceedings. Mr. Young has appraised in excess of 25,000 miles of railroad right-of-way.

PREVIOUS EXPERIENCE

Prior to forming Kenneth Young & Associates, Mr. Young was employed as National Director Rail Services for the Chicago based Lloyd-Thomas Company. Prior to the Lloyd-Thomas Company, Mr. Young was employed for six years by the national accounting firm of Ernst & Young LLP as a Senior Manager in Real Estate Services Group. Prior to Ernst & Young Mr. Young was for twelve years, Vice President-Engineering Services for Val-Tech Associates, a national valuation/appraisal/cost services firm.

EDUCATION

Construction Engineering (1972) Wilson Management Group
Purdue University Construction Claims & Delays

R.S. Means Company, Inc. RCON Services
Computerized Cost Estimating Understanding Track Structure

PROFESSIONAL MEMBERSHIPS

Member, American Association of Cost Engineers (AACE) #2371
Member, International Association of Right-of-Way Appraisers, (IRWA) #3667
Member, American Railway Engineering & Maintenance of Way Association (AREMA) #06648
Member, Rails to Trails Conservancy (RTC) #01964899
Member, American Railway Development Association (ARDA)


Qualifications
Representative Engagements
 

The Ann Arbor Railroad
Valuation of R-O-W: track structure and real estate. Toledo, Ohio to Ann Arbor, Michigan
(1988) 60 track miles.

Minnesota Transfer Railway
Valuation of real estate & track structure for dissident shareholder action. CNW/SOO line. St. Paul, Minnesota (1988) 40 track miles.

Denver, Rio Grande & Western
Appraisal of real estate & track structure for a branch line of Southern Pacific for a LRT system. Los Angeles, CA. (1988) 18 miles

Union Pacific and Denver Rio Grande & Western
Land cost analysis for proposed new r-o-w, CA, NV, & UT. (1988) 1,808 miles

MKT Railway Company
Real estate appraisal of r-o-w for a proposed LRT commuter line, (DART) City of Dallas, Texas. (1988) 50 miles

Norfolk Southern Corporation
Valuation of sixty railroad bridges and r-o-w located in New River, Virginia for donation to Virginia Dept. of Conservation. Pulaski County, VI. (1986) 62 miles / 60 bridges

Norfolk Southern Corporation
Appraisal of track structure & real estate r-o-w
Manassas to Alexandria, VI. (1995) 60 miles

The SOO Line (Canadian Pacific RR)
Surplus property inventory of non-operating properties in Illinois, Wisconsin, North and South Dakota. (1988) 2,000 miles

North American Rail Net
Determination of NLV for real estate & track structure for the STB. Camas Prairie Railroad, 2nd Subdivision. Lewiston, ID. (2000) 66 miles

Transtar Group (Union Railroad)
Appraisal of the “Hot Metal Bridge” for donation purposes. Structure was over 2,000 feet in length spanning the Mongahela River.
Monroeville, PA. (2000)

Genesee & Wyoming Inc.
Determination of Market Value for allocation of the purchase price. Appraisal included real estate, track structure, bridges, equipment and buildings of the South Buffalo Railway Co., Lackawanna, NY. (2001) 52 track miles

Wisconsin Central Ltd. (CN RR)
Appraisal of bridges, earthwork and r-o-w for use as hiking trails. Sale to State of Wisconsin DOT/DNR (1997/2002) Over 500 miles

Canadian National (Illinois Central)
NLVstudy of real estate for STB Offer of Financial Assistance for requirements regarding a 60 mile line extending west from Brookhaven to Natchez, Mississippi. (2005)

Elgin, Joliet & Eastern Railway
Appraisal of a 71 acre manufacturing site in Grundy County, Illinois. Establish sale/purchase price of surplus property adjacent to the EJ&E r-o-w. (2006)

CN/Chicago, Central & Pacific Railroad
Appraisal of 2.96 miles of r-o-w including three bridges for bargain sale/donation to the City of Marion, Iowa. (2007)

Belt Railway Company of Chicago
Appraisal of five industrial sites adjoining the Chicago rail yard. Condemnation of the five properties for expansion of rail yard. (2008)

LaSalle Bank
(Transportation Group), Chicago, Illinois

Valuation of various short lines for asset based financing purposes. Net Liquidation Values (NLV) of over 2,000 miles of track structure. (1997 to 2006)

North American Rail Net
Determination of NLV for real estate & track structure for the STB. Camas Prairie Railroad, 2nd Subdivision. Lewiston, ID. (2000) 66 miles

Transtar Group (Union Railroad)
Appraisal of the “Hot Metal Bridge” for donation purposes. Structure was over 2,000 feet in length spanning the Mongahela River.
Monroeville, PA. (2000)

Genesee & Wyoming Inc.
Determination of Market Value for allocation of the purchase price. Appraisal included real estate, track structure, bridges, equipment and buildings of the South Buffalo Railway Co., Lackawanna, NY. (2001) 52 track miles

Chicago SouthShore and South Bend Railroad
Market Value appraisal of real estate and bridge for donation as a hiking/pedestrian trail to City of Michigan City, IN. (2002) 1 mile

The Belt Railway Company of Chicago
Appraisal of real estate parcel regarding condemnation proceeding by the City of Chicago. (2002)

Wisconsin Central Ltd. (CN RR)
Appraisal of bridges, earthwork and r-o-w for use as hiking trails. Sale to State of Wisconsin DOT/DNR (1997/2002) Over 500 miles

The Trust for Public Land
Market Value appraisal of an elevated bridge line (4,300 L.F.) and the underlying real estate parcels. Subject purchased for use as a recreational trail. St. Louis, Missouri. (2005)

Montreal, Maine & Atlantic Railway
Net Liquidation Value (NLV) appraisal of 250 miles of r-o-w real estate and track structure in the Province of Quebec, Canada. Report used in establishing value for asset based collateral financing. (2005)

Canadian National (Illinois Central)
NLVstudy of real estate for STB Offer of Financial Assistance for requirements regarding a 60 mile line extending west from Brookhaven to Natchez, Mississippi. (2005)

National City Bank - Cleveland Ohio
Appraisal of the Ashland Railway Co.’s track structure. 35 miles of r-o-w between Mansfield and West Salem, Ohio. NLV of rail & ties, for asset based collateral loan purposes.

Elgin, Joliet & Eastern Railway
Appraisal of a 71 acre manufacturing site in Grundy County, Illinois. Establish sale/purchase price of surplus property adjacent to the EJ&E r-o-w. (2006)

CN/Chicago, Central & Pacific Railroad
Appraisal of 2.96 miles of r-o-w including three bridges for bargain sale/donation to the City of Marion, Iowa. (2007)

Belt Railway Company of Chicago
Appraisal of five industrial sites adjoining the Chicago rail yard. Condemnation of the five properties for expansion of rail yard. (2008)

Canadian Pacific Railway

Appraisal of r-o-w (land) for Latta Subdivision, an active 86 mile railroad corridor, located in a six county area in southwestern Indiana. Line sold to the Indiana Rail Road (2005).

Ironhorse Resources, Inc.
Appraisal of railroad r-o-w real estate for STB abandonment purposes. Approximately 60 miles of r-o-w located in a three county area of northeast Mississippi. (2004)

San Pedro & Southwestern Railroad
Appraisal regarding the track structure portion of an approximate 69 mile rail line. Located in the southeast section of Arizona. Report used in an STB abandonment application establishing the OFA (offer of financial assistance) basis.(2005)

Canadian National and the City of Chicago
“Project Create” Appraisal of real estate, bridges, earthwork, and retaining walls for CN’s St. Charles r-o-w and IC RR main line to 85th Street. Joint venture with Real Estate Research Corp. (2006)

Minnesota Northern Railway
Appraisal for STB abandonment purposes (Docket AB_497_3_X) of 17 miles of land and track structure (Ada Subdivision). Crookston, MN. (2006)

CN/Wisconsin Central Railroad
Appraisal of 35 miles of r-o-w, (land only) located in Barron County, WI. Market value appraisal of land for sale purposes to the State of Wisconsin DOT. (2007)
   
   
 

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