Soundings 10/24/06

New Member Applicant: Zachary Jones, proposed by Robin Schmidt, works at Horizon Bank. He has been recommended for approval by the board and the membership committee. Please send any comments to Matt Rose or Barry Kramer.

Bucks in the Bay
Stepahnie Sadler - 66th Birthday,
Bob Jones - Invitation to put together a party to watch a football game in November (?), and Microsoft correctly diagnosing a software problem;
Robin Schmidt - Boys & Girls Club, death of friend's daughter makes her grateful for having a healthy, succesful daughter
Curt Smith - trip to Sodona AZ (Los Abogados), car problems, good football game last Sat
Bob Moles - bicycle tour of CA wine country, tomorrow leaving to Honduras - kickoff of new project in Trujillo (3 nights there), then to Copan.
George Bowan - Peoples Bank broken ground on new headquarters at corner of Barkely and Woburn.
Jim Wells - interesting trip to Texas, tour of LBJ ranch
Curtis Dye - trip with son to robotics conference at WWU last week.
John Sleeth - successful heart operation (quad bypass) last week, great service at the hospital
Matt Rose - trip to Boston last week.
Patti Imhoff - granddaughter due on Nov 3, wonderful trip to India, also trip to LA to help daughter sell her jewelry line, proud of grandson at St. Paul's.

Sergeant at Arms by Patti
Good news coverage of Imco. Dale Brandland's newspaper flyer, Curt Smith's load of fluoride, attorneys, hunters, Gerald celebrated wife's birthday in Alger in a motorhome.

Program
Tim McEvoy introduced Lydia Bennett and Carolyn Casey, from Port of Bellignham.
They gave us an update/presentation on New Whatcom Waterfront Redevelopment project. "Connecting Bellingham to the Bay".
Over the summer, the port worked on a 20-30 year plan to see if the money could cover the cost of infrastructure/cleanup needed.
Roads: A great deal of access is needed to a site that is currently fairly isolated.
Port Financial Model: Assumptions is that of 220 acres, most remains in Port's hands, private land ownership will be about quarter.
Most costs go to cleanup.
There will be no sale of the waterfront property, only uplands. No tax money will go to develop the marina.
Port of Bellingham Money comes from half sales and leases 67million (also ecology grants 40million, and marina 19million) The Port's financial assumptions: Average land value $25/ft.
Breakeven estimated by the year 2019 if we receive ecology grants (if not, breakeven comes about 2025).
Cleanup plans - The preferred alternative by Dept of Ecology is the same one preferred by POB. Three areas are targeted: lagoon, waterway, and GP mill upland site. Removal of 500,000 yards of waste, plus targeted dredging along the deepwater terminal.
Please send comments to Dept. of Ecology if you believe strongly in developing this site before Dec 8th - important that they hear from us on this because they will be paying for a lot of the cleanup!
Where does the Port's money come from? Land sales and leases, cash reserves, grants, bonds, and property tax.
City of Bellingham financial model: The developable area is 90 acres, 6 million sq ft TOTAl buildout, they collect their revenue much later in process - longer cost recovery. 3,000 residential units are planned. Revenues: LIFT, Greenways, utility funds, REET, street funds, other sources.
This project anticipates that only 6% of county growth in the next 20 years will be at New Whatcom.
Lydia urges us to voice our opinions especially if we are happy with the progress and direction!

Respectfully Submitted,
Stowe Talbot