Port to Issue Bonds for BMS

DAYTON - In a special meeting last week, the Port of Columbia commissioners agreed to issue bonds through Banner Bank of up to $300,000 to complete construction of the first building at Blue Mountain Station. The vote was 2-1, with Commissioner Earle Marvin dissenting.

The move will allow the Port to proceed with construction of the first phase of the artisan food center planned for the site at Dayton's west end.

Five firms have signed letters of commitment to rent the eight spaces in Building 1. They include Gypsy Girl Granola, Big Kahuna Hot Sauce, Grass Roots Goats, Roubideau Artisan Cheese and Mace Mead Works.

The low bid for the proj- ect was $1.098 million, from Western States Construction, of Spokane. The Port origi- nally budgeted $900,000 for the construction portion of the project. Funding was to come from a $750,000 appropriation made by the state legislature in 2011, with the remainder from the Port's general funds. The general obligation bonds will be re- paid with income from the building's tenants.

In an interview after bids were opened on April 5, Port Manager Jennie Dickinson said that she had hoped the project could be completed with no borrowed funds, but she knew additional funding might be needed once construction bids came in.

"As far as I know, all of the buildings here at the Port have been built with some borrowed money," Dickinson said. She pointed out that the Port has a strong tenant base and is in a finan- cially strong position.

Port commissioners are expected to approve the bond agreement with Banner Bank at their regular meeting May 8. The Port plans to open Building 1 and have tenants up and operat- ing in the fall.