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Portland Fish Exchange subcommittee recommends discretionary $10,000 seed-holder line of credit
Summary
The subcommittee voted to recommend that the Portland Fish Pier Authority allow Portland Fish Exchange manager Robert Van Meter to negotiate seed-holder lines of credit down to $10,000 (from the current $15,000) on a discretionary basis; the recommendation passed with committee members recording seven yes votes and one abstention.
The Portland Fish Exchange (PFE) Subcommittee voted on July 10 to recommend that the Portland Fish Pier Authority permit the PFE manager flexibility to negotiate certain buyer “seed-holder” lines of credit down to $10,000 from the standard $15,000.
The subcommittee’s recommendation, made by Meredith (subcommittee member) and seconded by Robert Van Meter (PFE manager), directs the authority board to consider a change to rules and regulations that now require a $15,000 deposit or letter of credit for seed-holder buyers. The subcommittee recorded seven yes votes and one abstention; the motion passed and will be forwarded to the full authority board for action.
The change is intended to help recruit buyers who said they would participate only with a lower deposit. Robert Van Meter told the committee he…
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