Port of Astoria in financial trouble

| Print |  Email
Must Reads
Friday, July 27, 2012

A recent audit on the Port of Astoria shows major financial troubles, compounded by a slowdown in log exports.

The port's operations have been losing more than $1 million per year.

Those losses have been covered largely by nonoperational revenue such as property tax proceeds, grants, loans and interest income. As a result of its paying off a general obligation bond, the port saw a reduction in property tax revenue this year.

Lawsuit expenses also mounted — more than $500,000 in the past four years, according to Colleen Browne, port finance manager. They included battles with the Bank of Astoria over offices and with the developer of a proposed natural gas terminal. They now include litigation against the port’s former attorney, Heather Reynolds, who now works for Clatsop County.

Read more at The Statesman Journal.

{biztweet}port astoria{/biztweet}

 

More Articles

Photo Diary: Forest Grove Farmers Market

The Latest
Thursday, May 14, 2015
IMG 8469BY JASON E. KAPLAN | STAFF PHOTOGRAPHER

There are more than 160 farmers markets in Oregon, contributing an estimated $50 million in sales, according to the Oregon Farmers Markets Association. We checked in on the Forest Grove market, which for several years has brought local produce and food vendors to Main Street in the center of town.


Read more...

Emperor of the Sea

April 2015
Friday, March 27, 2015
BY COURTNEY SHERWOOD | Photos by Jason E. Kaplan

Pacific Seafood, one of the world’s largest processors, is rebranding as a more transparent and consumer-friendly operation. A controversial CEO and monopoly accusations from coastal fishermen complicate the tale.


Read more...

The Health Guru

May 2015
Monday, April 27, 2015
BY LINDA BAKER

Mohan Nair channels a visionary.


Read more...

Much ado about data-driven organizations, for good reason

Contributed Blogs
Monday, April 13, 2015
bigdatathumbBY GRANT KIRBY | OP-ED CONTRIBUTOR

The mega-shift from technology-driven to data-driven organizations raises questions about Oregon’s workforce preparedness.


Read more...

Energy Stream

May 2015
Monday, April 27, 2015
BY LINDA BAKER

Oregon already ranks as the nation’s second largest generator of hydroelectric power. (Washington is No. 1). Now an elegant new installation in Portland is putting an unconventional, sharing economy twist on this age-old water-energy pairing. The new system, launched this winter, uses the flow of water inside city water pipes to spin four turbines that produce electricity for Portland General Electric customers. 


Read more...

Foundations perspective

May 2015
Monday, April 27, 2015
BY KIM MOORE

A conversation with Martha Richards, executive director of the James F. & Marion L. Miller Foundation.


Read more...

Fighting Fire With Fire

May 2015
Friday, April 24, 2015
BY BEN DEJARNETTE | INVESTIGATEWEST

Timber companies and environmental groups take a stab at collaboration to boost logging and restoration in Oregon fires.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS