Remaining operationally viable key for Port Authority of Port St. Joe

Published: Thursday, August 22, 2013 at 09:28 AM.

The Port of Port St. Joe, however, is also “skeletal” in staff and badly in need of revenue to maintain operations while navigating the dredging thicket, said Port Authority chair Leonard Costin.

“It is no secret we are broke,” Costin said. “We’ve been able to squeeze by until (the end of the fiscal year in September), but barely.”

The port also faces foreclosure on its barge terminal land, encompassing 67 acres, and must remain an operational entity to ensure continued access to state and federal grants disbursed to members of the state’s Strategic Intermodal System.

“We have to have something here that makes us viable,” Costin said.

A hearing pertaining to the foreclosure proceeding brought by Capital City Bank was held Tuesday.

Costin said attorneys indicated an immediate decision unlikely and Costin said he hoped the case would be determined in favor of the Port Authority or would compel Capital City “to leave us alone for a time.”

“They are going to be paid back,” Costin said. “They can kill the golden goose if they pursue this case or they could just back off.”



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