Commission Adopts Leasing Policy
The Port Commission voted unanimously to adopt new leasing policies at its regular meeting on June 12, 2019. The policies will guide the way in which the Port conducts business and negotiates and manages leases in the coming years. The policies represent a major step in advancing sound business practices, fair treatment of tenants, and the financial health of the Port.
The Commission’s ambition was to create policies that were responsive to the views of key community stakeholders, and ones that would make a difference to the Port’s long-term sustainability. The new policy document achieves this vision. The policies were developed with the assistance of a Commission appointed advisory committee representing citizens, Port tenants and local financial institutions. The committee (Leasing Policy Advisory Committee (LPAC)) met four times between October of 2018 and February of 2019 to identify concerns and recommend changes to draft policy language. Nearly all of the committee’s recommendations were adopted by the Commission. The Port appreciates the committee’s hard work and expertise in service of our community.
The Commission’s new leasing policies are intended to attract and retain sound businesses, provide a fair rate of return to the Port and public, and promote the economic vitality of Jefferson County. Port staff will routinely use the policies as a guide in negotiating and managing the over 100 leases in its portfolio.
The new policies can be found here.