The U.S. Surface Transportation Board set the price for the Coos Bay rail line Wednesday at $16.6 million. The Oregon International Port of Coos Bay now has until Dec. 1 to decide whether to accept the STB’s price and terms of sale.

The STB approved the port’s application to purchase the line Oct. 31.

It devised the methodology for coming up with a price, then asked the port and Central Oregon & Pacific Railroad to offer scrap metal prices.

The railroad company suggested an appropriate price would be $16.6 million. The port previously suggested something closer to $7 million to $9 million.

The port’s commission agreed to pay up to $16 million for the line at its last meeting.

Martin Callery, the port’s director of communications and freight mobility, said it was possible the issue would come up at tonight’s meeting, though it wasn’t a certainty. The commission will need to direct staff on how to proceed.

“We are going to have to discuss it and see what options we have,” Callery said.

If the port decides not to purchase the 111-mile rail line, CORP will be allowed to abandon it.

Rep. Peter DeFazio, D-Ore., requested an extension for the port to make a decision, but the STB denied it.