American Railway Development Association


August 2018
Real Estate Section Feature
History of "Across the Fence" Valuation for Railroad Real Estate
Robert Gloodt
Union Pacific Railroad Company

Renay Robison
Union Pacific Railroad Company
ARDA Real Estate Section Vice Chair

Having corridor and transportation property valuation methodology questioned is a regular occurrence for those of us working in railroad real estate.  Consistent with market based principals of substitution railroad companies use "Across the Fence" methodology and when appropriate apply an "Enhancement Factor" in determining the value of a utility occupancy.  Most of us have developed abridged explanations of the "Across the Fence" method. However, not all of us know the historical context. This approach in valuing railroad corridor has been accepted in the marketplace for over a century. 

Each year, more and more pressure is put on railroads by utility advocates to reduce the costs and processing times in granting utility licenses. These utility advocates pressure state legislators to enact statutes that predetermine those factors and set a flat fee for utility real estate rights, ignoring the marketplace role or the actual costs and needed processing time. Understanding the history of "Across the Fence" valuation for transportation corridors is important for railroad real estate professionals who are defending the corridor and transportation property market based valuation.

Save the Date! 2019 Executive Forum

For 2019, ARDA will be focusing our effort and events around the theme of "Let's Grow Together." The Executive Forum will take place from Januray 21-23, 2019 at the Embassy Suites, St. Augustine, Florida.

Registration for the 2019 Executive Forum will open soon. Keep an eye for out an email announcement and more information on the ARDA webiste.

Hotel Block:
We will have a room block at the Embassy Suites, St. Augustine Florida. Information about how to reserve a room will be posted on the ARDA webiste as it becomes available.

If you have any questions regarding the 2019 Executive Forum, please contact Will Resch at

Sponsor ARDA in 2019
First, a big thanks to all of ARDA's 2018 sponsors who supported our effort to Build on our Foundation this past year! Your contributions were critical to putting together the Executive Forum in Savannah and the Annual Meeting in New York. 

2018 ARDA Sponsors

Bartlett & West
Norfolk Southern
Union Pacific Railroad

Canadian Pacific
CSX Corporation
GEI Consultants
Kansas City Southern
LJA Rail

Clear Channel Outdoor
RailPros Field Services

Antea Group
Daley Mohan Groble

Looking forward to our 2018-19 membership year - ARDA offers companies the opportunity to sponsor the association on an annual basis, or by specific events at our Annual Meeting and Executive Forum. Multiple levels of Annual Sponsorship are available for your consideration. Corporate commitments greater than $1,000 also include complimentary individual memberships to ARDA.

If you have any questions or would like to sponsor ARDA in 2019 please contact Will Resch at or 202-715-1259 .

Annual ARDA Sponsorships
Bronze Level
$1,000 - $2,999
Silver Level
$3,000 - $4,999
Gold Level
$5,000 -  $7,499
Platinum Level

Almost Time to Renew Your ARDA Membership for 2019! 

Be on the lookout for membership renewal inforamtion being distributed in September 2018. 

Your renewed membership allows ARDA to continue fostering the industrial, real estate, natural resources, market development activities and environmental concerns of the North American railroads through the advancement of ideas and education of its members. Members also recieve discounted registration rates at ARDA events, including a $200 discount on the Annual Meeting!

If you are not an ARDA member and would like to join, please visit our  registration page .

2018-19 ARDA Board of Directors

President: Mark Holder, HDR, INC.
First Vice President: Doug Morrison, Bartlett & West, Inc.
Second Vice President: Mike Ray, BNSF Railway Company
Treasurer: Devin Sprinkle, CN
Secretary: Matt Cangiolosi, CSX Transportation, Inc.
Past President: Gary Rozmus, GEI Consultants, Inc.

For more information, visit the ARDA website  or contact: 
Will Resch at
The  American Railway Development Association  (ARDA) is a not-for-profit educational trade association founded in 1906 to promote Economic Development, Real Estate Development, Technology, and Environmental Activities of the North American Railroads. 
The objectives of the Association are to foster the industrial, real estate, natural resources, market development activities and environmental concerns of the North  American railroads; and through the advancement of ideas and education of its members, further promote the effectiveness of railway development and related work .
Real Estate Feature
Meeting Registration
Sponsor ARDA!
Membership Renewal
New Members since May

Richard Amanna
Manager, Strategic Investments
MTA Long Island Railroad 

Joseph Bottino
Senior Right of Way Agent
HDR, Inc.

Edward Bradshaw
GEI Consultants, Inc.

Ken Bryan
Senior Strategist
Rails-to-Trails Conservancy

Joseph Engels
GEI Consultants, Inc.

Micah Forbes
GEI Consultants, Inc

David Glass
Vice President
TRC Companies, Inc.

Jaime Harris
Deputy Director & Counsel
Greystone Management Solutions

Eric Henderson
CSX Transportation, Inc.

Reggie Herman
IAP Regional Practice Leader

Errol Kitt
GEI Consultants, Inc.

Jim Oosterhoudt
Vice President

Joe Perse
GEI Consultants, Inc

Lance Rasnake
Senior Project Manager

Stephen Roane
Project Manager
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