Port of Longview approves budget
Thursday, November 27, 2008 10:20 AM PST
By Erik Olson
Printable version
E-mail this articlePort of Longview commissioners Tuesday approved a 2009 budget that sets aside money for property acquisition and construction of a new Berth 9 but leaves a question mark for acquisiton of two key properties.
The port is expecting to spend $7.4 million on capital projects in 2009, which includes $5.25 million for Berth 9 to service a proposed $150 million, privately financed grain elevator. The capital budget will have $11.6 million available, including a land acquisiton fund that grew to $1.8 million this year following the May sale of 237 acres of land at Willow Grove for $355,500.
Port officials left a blank for the acquisiton of about six acres of land from Kalama-based RSG Forest Products for the grain elevator project. The port is seeking to acquire the land via eminent domain, where a jury would likely set the price.
The other unknown is the possible acquisition of 35 acres owned by Simpson Timber, which bought the land in 2005 with the idea of building a new sawmill. The Tacoma-based company instead built a sawmill on Third Avenue in Longview, and the port has been looking to buy back the land.
The port expects about $18.1 million in operating revenue for 2009, about $570,000 more than expected expenses. That’s about 7 percent higher than the 2007 operating budget, which was $16.9 million.
With its rapidly wind-energy import business, the Port of Longview has been hurt less than other West Coast ports stung by struggling consumer sales, said Ken O’Hollaren, Port of Longview executive director.
The port is dropping its levy rate to 39.2 cents per $1,000 in assessed valuation, down from 41.8 cents in 2008 and 44.9 cents in 2007.
The budget is a “conservative” estimate of the port’s expected revenue for next year, Port Commissioner Bob Bagaason said.
“That’s a lot of money. This is a big port, and we go through a lot of finances,” Bagaason said.
Darold Dietz, the port commission chairman, praised staff for managing the port’s money well during the difficult economy.
“I don’t know how it could be any better, with the times we’re looking at,” Dietz said.
Related articles:
Top 10 Port of Longview salaries
Port's eminent domain bid headed to court (Nov. 14)
Port of Longview approves rail line for proposed grain elevator (Oct. 1)
towboater wrote on Nov 26, 2008 6:55 AM:
Need jobs? 09/10 Port and PUD budgets should include selling Industrial Way frontage to Private vendors and moving to a nearby location on vacant/nearly adjacent Port property. "
Jack Squat wrote on Nov 26, 2008 7:36 AM:
TDN Bad Boy wrote on Nov 26, 2008 8:13 AM:
Mr. Bastinado wrote on Nov 26, 2008 8:25 AM:
zar wrote on Nov 26, 2008 8:32 AM:
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