Many ‘action items’ the Port commission have acted in the last few years have raised concerns from the public especially the Weyco land option. Citizens have written letters dating from March 2009 to January 2011 to the commissioners, the staff and the attorney general and spoken out at public meetings, to put their concerns on the record. To date, not one commissioner or staff member has ever even acknowledged receipt of the letters much less bothered to address the concerns expressed.

Wednesday, I sent an email to Jeff Bishop asking for clarification on the Weyco land deal. Bishop did not respond and when I forwarded my questions to the Port commissioners the following day he fielded my questions to Elise Hamner. Our exchange follows below.

Morning Jeff,

As you are well aware there have been many questions raised about the two appraisals done in 2006 on behalf of the Weyco land option. It seems to me that directly addressing those questions would go a long way toward dispelling public concern. The questions raised are known to you but I will repeat them here.

1) Were the appraisals done before or after the price was negotiated? Before or after the loans from Umpqua and the State?
2) The appraisals are now old and market conditions change? How is the $25 million price still valid?
3) The appraisals appear to assume there are no unknown environmental contamination to the site. How is the Port protected in the event this assumption is wrong and the value is reduced?
4) The appraisals make the assumption there is rail service. How is the Port protected should plans to restart the railroad line fail?
5) The comparable used to justify price is the option sale which invalidates the value. What other factors are there that might justify the price?

Additionally, two studies, namely the PB Marine study indicate that a container dock would not be economically viable or provide a positive return on investment to the public. What factors not covered in this report lead the Port to today continue pursuit of a container dock?

Thank you, Jeff, for your time on this,

Mary Geddry

Subject: Fwd: Weyco appraisals

Good morning,

The email to Jeff Bishop below has not been answered and so I am forwarding these questions along in case he is out of town or too busy. An additional question is how did the Port book the Weyco transaction? The Umpqua and State loans would obviously be a liability but how was the $25 million prepayment booked?

Your help in this matter would be much appreciated.

Thank you,

Mary

On 3/3/11 3:25 PM, Elise Hamner wrote:

Mary,

Jeff Bishop asked me to field your inquiry. I tried to respond to you yesterday, but the e-mail bounced back. The Port has an online question-answer section on its website for responding to questions related to the LNG project and other developments. Our intent is to respond in that venue to general questions from the public that haven’t already been addressed. We will work on responses to your questions and post them as our schedules allow.

Elise Hamner

Subject: Re: Weyerhaeuser appraisals

Thank you, Elise. As I am working under an editorial deadline, your answers would be much appreciated before 3PM tomorrow to make it into the article.

Mary
On 3/3/11 4:05 PM, Elise Hamner wrote:

Mary,

It’s unlikely Port staff will have time to draft responses and post them to the website by 3 p.m. Friday.

Elise Hamner

Considering these questions have been raised in multiple public meetings and in letters over the last four years, it is unconscionable the answers have not been addressed already.

Mary