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Commissioners open to extending Port Authority loan and providing short‑term working capital in exchange for marine academy use of port land
Summary
The commission instructed staff to explore extending a loan to the Port Authority and providing modest annual working capital from economic development funds if the port will provide county access to land for a marine academy; commissioners said the arrangement could support broader economic development around the port and dry dock projects.
Commissioners discussed a proposed deal with the Port Authority that would extend an existing loan deadline and provide modest working capital in exchange for port cooperation on a marine academy site.
County Administrator Michael said the port now has a full board and is seeking a revenue source to cover insurance and overhead; he proposed exploring an…
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