January 2006
Watching Government
Port of Bellingham
Compiled by Ryan Hashagen
Action Taken at November 15, 2005 Meeting
Shall the commission:
106. Allow the Wood Stone Corporation of Bellingham to sell up to $8 million in tax-free bonds to finance expansion plans? The local company located at the Bellingham airport manufactures wood- and gas-fired ovens for restaurants. The bonds will finance a new 52,000-square-foot manufacturing facility on adjacent property to produce a home version of their ovens. (Industrial Development Corporation Resolution 56) Approved 3-0
107. Allow FPE Renewables of Lynden to sell $850,000 in tax-free bonds for the construction of the manure digester/co-generation plant? The industrial revenue bonds will reimburse construction loans for the plant at the VanderHaak Dairy in Lynden. (Industrial Development Corporation Resolution 57) Approved 3-0
108. Allow BP (British Petroleum) West Coast Products to raise the cap on the sale of tax-free bonds from $120 million to $200 million? The industrial revenue bonds will pay for equipment and improvements, including industrial sewage disposal facilities, dock and storage facilities, solid waste and solids product handling at the Cherry Point refinery. (Industrial Development Corporation Resolution 58) Approved 3-0
109. Adopt the 2006 operating and capital budget and the 2006 strategic plan? The port has not yet received the assessed valuation for county property. When the port receives the valuation the final budget will be passed as an amended resolution. (Resolution 1216) Approved 3-0
110. Adopt the 2006 property tax levy? The 2006 property tax income is estimated to be $5,878,437. The levy rate will be 38 cents per $1,000 of assessed valuation, the same as 2005. (Resolution 1217) Approved 3-0
111. Support Industrial Development Corporation Resolution 56 allowing the Wood Stone Corporation to sell tax-free bonds? See vote number 106 for details. (Resolution 1218) Approved 3-0
112. Support Industrial Development Corporation Resolution 57 allowing FPE Renewables to sell tax-free bonds? See vote number 107 for details. (Resolution 1219) Approved 3-0
113. Support Industrial Development Corporation Resolution 58 allowing BP (British Petroleum) West Coast Products to increase the cap on tax-free bonds? See vote number 108 for details. (Resolution 1220) Approved 3-0
114. Authorize the executive director to enter into an agreement with WWU to provide up to $25,000 towards a New Whatcom feasibility study? The study will determine what projects the university would like to include in the New Whatcom master plan. Approved 3-0
115. Authorize the executive director to pay for the port’s portion of 2005 election costs and increase the budget to $105,000? The port allocated $70,000 for the 2005 election based on 2003 election costs that were $71,042. The cost to the port for the 2005 primary election was $53,503 and the cost for the general election is estimated at $50,000. Approved 3-0 Full Disclosure: The compiler of this report was one of the primary candidates for District 1 commissioner.
116. Sign a contract with the city of Bellingham to coordinate the environmental cleanup of the Cornwall Avenue landfill and central waterfront sites? The city will pay the port $3.7 million before 1/1/06 and the port will be responsible for managing the cleanup of both sites. Both sites require cleanup under the state Model Toxics Control Act. Approved 3-0
117. Sell a 49 percent ownership in the Cornwall Avenue landfill to the city of Bellingham? The city will pay the port $2,450,000 before 1/1/06 and the port and city will work cooperatively to complete environmental remediation, land use planning and property redevelopment. The port will retain management of the property, including adjacent state-owned land under an agreement with the state. Approved 3-0
118. Authorize the executive director to sign a contract with the Whatcom County Council of Governments for a pilot project involving a passenger only ferry from Fairhaven to Friday Harbor? The service will run from 11/29/05-3/31/06. The Council of Governments received a federal grant to conduct a feasibility study regarding ferry service but the council determined a pilot project would be more effective. The Council of Governments does not have the legislative authority to conduct transit services; they asked the port to authorize it. Approved 3-0
