Update on The Port...

As you noted in the Gazette today, yesterday the Budget and Control Board appointed the State Ports Authority as the agent to sell the port. This is an interesting event because: the Budget and Control Board was set to take over the sale of the property on Jan 1,2010, there is an active buyer who might close in January, however, the BCB doesn't meet in January so this move helps the matter proceed. However, it also removes ANY time constraints on the signing-this presents a huge problem for Port Royal since the town is losing potential revenue every month that the property remains in the hands of the State. The town is attempting now to add a time limit on this assignment of sales agency to the SPA in an effort to put some incentive on someone to get the deal done--more to come....Joe