Politics

Port costs Pensacola $1.45 mil

April 7, 2008

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According to the 2007 audit, The Port of Pensacola revenue was down 41 percent last year. The operation lost $1.45 million. The staff is projecting fiscal year 2008 estimated revenues of $2.6 million – higher than prior year actual. The fiscal year 2008 estimated revenues are based on expectations of increased vessel activity for the three core tenants in fiscal year 2008 as well as the addition of at least one new transient cargo customer.

The Port handled 85 total vessels for a total cargo tonnage mark of 525,000 tons, a 61 percent decrease of fiscal year 2006 tonnage.

Here are the tenants:

Halcorp Land – 10 years with “2” 5 year renewals – Annual Lease payment $88,500
Effective 7/28/88 – I believe they will not be renewing their lease.

CRA 20 years Years 1 – 10 $16,910; Years 11 – 15 $27,395 ; Years 16 – 20 $32,875
Effective 8/1/96

Martin Marietta Land 1 year with “4” 5 year renewals – $54,000
Effective 12/01/01

CEMEX Ready Mix Warehouse 5 years with “3” 5 year renewals – $180,000
Effective 10/25/03

Pate Cold Storage Warehouse 5 years with “2” 5 year renewals – $43,200
Effective 4/1/04

Note: If the Pensacola City Council had not signed lease agreements with CEMEX or Pate, we would be nearly out of the Port business. If the council had not signed with Martin Marietta, we would be completely out of the industrial port business.

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