I am not arguing to close the Port of Pensacola. However, we should not extend, renew or amend any long-term leases at the port until we’ve pursued other uses for at least some of the land.
We have a $20+ million asset that is under performing. It has a net operating loss and is barely flowing positively on the cash side. We’ve invested another $6.8 million into it over the past five years.
Gulfport, New Orleans and Mobile are investing hundreds of millions into their ports. We can’t compete. We can keep the southern end of the Port open for cargo, if that makes economic sense, but let’s put out requests for proposals for the rest of the land.