“Innovative development structures could be considered, such as a coordinated concession process with the North Coast Railroad Authority in which the terminal project and rail corridor are granted under a single long-term agreement to a private sector investor and operator.”

Translation = Sell the port and railroad to Goldman Sachs. This is very real and don’t think it can’t happen.

 

 

MEDIA RELEASE
FOR IMMEDIATE RELEASE
June 12, 2008

Humboldt Bay Harbor, Recreation and Conservation District Updated Draft Redwood Marine Terminal Business Plan Available for Review

Contact: David Hull 707 443-0801

The Humboldt Bay Harbor, Recreation and Conservation District (District) is pleased to announce that the Draft Redwood Marine Terminal Business Plan will be available for review starting on Friday, June 13, 2008 on the District’s website at www.humboldtbay.org

On February 28, 2008, the District’s Board of Commissioners heard an updated presentation of the Redwood Marine Terminal Feasibility Study by representatives of TranSystems, the consulting firm retained to produce the feasibility study and business plan. Written and oral comments on the draft Feasibility Study were taken by the Board of Commissioners at three Board meetings and over a 50-day comment period. At the February 28 meeting, TranSystems presented their updated report providing additional information based upon the comments received. At the conclusion of the presentation, the Board took action to receive and file the feasibility study and authorized TranSystems to proceed with preparation of a business plan for the Redwood Marine Terminal Development Option B.

Representatives of TranSystems are scheduled to make a presentation on the Draft Redwood Marine Terminal Business Plan at the District’s June 26, 2008 Board Meeting. This meeting will be held at 7:00 PM at the Wharfinger Building, Eureka Public Marina, 1 Marina Way, Eureka. A 30-day written comment period will follow this presentation.

The Redwood Marine Terminal Feasibility Study and Business Plan is a continuance of the District’s efforts to revitalize and diversify the maritime uses of the harbor portion of Humboldt Bay in an effort to create jobs, provide funding for the District’s recreation and conservation needs and stimulate the local economy. The first step in this process was the completion of the Harbor Deepening Project in 2000 that allowed Humboldt Bay to be competitive in Pacific Rim maritime shipping. Building on the deepening project, the Harbor Revitalization Plan was completed in 2003 and concluded that, although there were challenges, the Port of Humboldt Bay was viable for a variety of maritime uses. As a result, the District obtained the Redwood Marine Terminal between 2004-2006.

The District retained TranSystems in 2007 with funding from Humboldt County’s Headwaters Fund to conduct a site assessment, market evaluation, develop development options and business plan for the Redwood Marine Terminal property. These reports and the recommendations are available on the District’s website.

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Redwood Marine Terminal Business Plan

Letter from Goldman Sachs

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