Hearing looms large for Port Authority

Published: Thursday, June 20, 2013 at 11:32 AM.

The 67 acres represents the port’s barge terminal, the bulkhead and uplands. The improvements to the property, in the millions, came from state and federal grant funds.

Port Authority members have publicly and consistently stated the intent to pay the debt, but currently there is no revenue.

The hearing complicates a request from the Board of County Commissioners.

During recent meetings, several commissioners have pressed the port about a $199,000 economic development loan – a fraction of 1 percent of funds received by the port in the past decade – the port received last year.

Port Authority Chairman Leonard Costin appeared before the BOCC a few weeks ago to inquire if the debt payment schedule could be amended due to the port’s current lack of revenue.

The Port Authority has 10 months to make the initial payment.

County Commissioner Ward McDaniel asked if the Port Authority would be willing to consider as collateral a mortgage on the old Arizona Chemical property; 100 acres and infrastructure donated to the Port Authority by the parent company of Arizona Chemical.

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