PORT ANGELES –Platypus Marine Inc. wants to buy the four waterfront acres it now leases from the Port of Port Angeles so it can make a multimillion expansion.
The company needs the stability of owning the land because there’s some hesitation towards growth on leased land, Kevin Blake, Platypus’ chief financial officer, told the three Port commissioners Monday.
The ship repair company is unwilling to do an expansion — at least to the full extent it wants — if it can’t own the property and protect its investment, Blake said.
But the Port normally only leases, not sells, property, and Port commissioners Glenn Beckman and Bill Hannan favored helping Platypus secure a lengthy lease, 50 or 60 years, saying that should provide the security needed to get bank financing.
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