In two special meetings today at 1801 Roeder Ave, one starting at 3 p.m. and one at 6 p.m., people will have their last chance to comment on the ports proposed deal to give away our public waterfront to a shell corporation of foreign nationals.

Port Director Rob Fix said, “Dollars are a very important consideration ... but it’s certainly not the only factor here."  Indeed. It seems to have more to do with wool, partly of the Irish variety.

The Port will not be receiving a Deed of Trust, securing its land loan against the land in first position. This effectively enables Harcourt to use the Land as its downpayment to banks after which it will have only an unsecured obligation to repay the Port. 

The Port is "Rob-bing" the public by artificially "Fix-ing" the fair market value at less than 1/4 to 1/2 of what it really is and requiring only a token downpayment.  Future values over the estimated timeline inure to the developer.

The public is on the hook for at least $100 million with zero return on investment while development as proposed could devastate the existing downtown.

Harcourt will not have to pay legal costs for disputes even though they have a reputation for being litigious.

Someone other than Harcourt must be benefitting or this wouldn't be happening, but the public is only getting fleeced and the wool pulled over their eyes.