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Port of Benton to receive $2.4 million CURB loan to modernize Stevens facility
Summary
CURB approved a $2.4 million low‑interest general obligation loan to the Port of Benton to modernize an aging multi-tenant industrial facility on Stevens Drive; the port said the work is critical to retain existing tenant Barnhart Crane and to open space for additional industrial users.
The Community Economic Revitalization Board approved a $2.4 million general obligation loan for the Port of Benton to begin modernization of a 1950s-era multi‑tenant industrial facility known in presentation materials as the Stevens facility.
Diane Howard, executive director of the Port of Benton, described the 90,000-square-foot tilt‑up concrete building as under‑served by modern electrical, HVAC and plumbing infrastructure and said the port’s initial request focuses on a 7,500-square-foot office remodel and system upgrades to enable multi‑tenant use. The port plans to combine local port capital dollars and county funds with the CURB loan; staff materials show a total project cost of $8,150,000 with a $5,750,000 match from the port (a staff note in the materials said the match line contained a typo and confirmed the larger match figure in the packet).
CURB staff recommended a $2,400,000 general obligation loan at 3% interest over a 20‑year term, with precontract requirements to be completed within six months (repayment resolution, final budget and scope, environmental review, permits and clearances, cultural resource review and tribal consultation, evidence of match and private investment, and other standard items). The port said it had already discussed matching county capital funds and potential federal partners but preferred to close the CURB loan now rather than delay to await federal EDA timing.
Barnhart Crane (tenant) described why improvements matter for employees and operations. Board members discussed regional rail and intermodal opportunities the port is pursuing and noted the project is intended to protect and expand valuable industrial land and rail‑served capacity for the Tri‑Cities region.
A motion to approve the staff recommendation carried by voice vote; staff will track precontract requirements and bring a contract once conditions are satisfied.
