Port of Coos Bay economic development has a dismal record
the public has witnessed the Port enter into a highly unorthodox land option secured by $25 million in loans signed by the Port only to terminate it without explanation five years later. The Port borrowed another $5 million, in advance of receiving State lottery funds allocated for dredging knowing they didn’t have a railroad or valid terminal operator… the Port has declared a recently acquired railroad line an emergency in order to facilitate repairs so that an unnamed private wood products company can deliver product from Reedsport to Veneta at the blazing speed of 10MPH no later than June.
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