10/03/2017: "FH Port To Purchase Jensen Shipyard For $2M+/-??"
(Updated 10:30am 10-04-17) The Friday Harbor Port Commission will hold a special Meeting at Spring Street Landing, 10 Front Street, Suite #105, Wednesday, October 4, 2017 at 4:15pm, and an agenda item is the discussion of a timeline and process of due diligence needed before entering into a Memorandum of Understanding:
An Agenda Item was included in the October 4th special Meeting agenda in error. The Commission had not seen nor approved the item that states: “Discuss and Approve a Memorandum of Understanding and draft Purchase and Sale Agreement for Jensen’s Shipyard”.
Following any preliminary negotiations authorized by the Commission there would be additional Commissioner review and public involvement prior to a decision is to proceed with a purchase of the shipyard and marina.
If the Commission ultimately decides to sign a Purchase and Sale Agreement there would still be a feasibility period incorporated into that agreement for Port to complete the environmental and business due diligence work already underway.
The Commission believes "It is critically important that extensive financial analysis and environmental testing be completed and thoroughly vetted by the Commission and public prior to any acquisition of industrial property by the Port."