The Port of Grays Harbor’s work to structure the deal to restart that NewWood Satsop facility is simple. Refinance the loan there and acquire the personal property. The Port owns the real estate.
Then secure a contract with a new firm.
The operation to make wall board there, construction materials. New capital investment drives jobs and jobs drive even more prosperity.
This may also be an exporter and they could get EX-IM credits.
Now one thing that stood out, was the private, non profit financial institution.
The next phase is of course the tenant occupation. The purchase over time of the equipment and two patents, an installment sale.
Hard work pays off and we have to take off a hat to the Port for saving that plant.
Now I wonder could a similar deal be used for our fine paper mill here? Where we find a way to acquire that land using an installment sale.
Edward D. Perrotti