PORT ANGELES — Faced with annual lease payments of more than twice what is currently paid has Port of Port Angeles commissioners pondering the future of The Landing mall.
Port officials are renegotiating its lease with the state Department of Natural Resources.
That could increase the annual cost for renting the land under the waterfront retail, food service and office complex at the foot of Lincoln Street from $37,000 to $80,000.
Even before the proposed price increase, the Port is losing money on the building, according to the published budget.
The loss this year is estimated to be $10,660.
“We shouldn’t sign a new 30-year lease if it is losing money,” said Port Commissioner Bill Hannan.
Hannan said he was concerned about The Landing mall’s future.
“The Port has managed the property for many years and are getting all they can out of it,” Port Commissioner Glenn Beckman said.
Beckman said private enterprise has had the same problem making a profit at that location; he doesn’t know how the state plans to get blood out of a turnip.
Port Commissioner Leonard Beil said maybe operating The Landing mall won’t be economical soon because of the rent increase.
“So maybe the Port should budget money to have the property appraised in case it has to be sold,” he said.
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The rest of the story appears in Thursday’s Peninsula Daily News Clallam County edition.