Community Investments: Grays Harbor, Toronto

The commissioners of the Port of Grays Harbor are taking an innovative approach to revitalizing a shuttered manufacturing facility at the port’s newly acquired Satsop Business Park. The Toronto Port Authority (TPA) supports communities along Toronto’s lakefront by investing in programs that support youth, families and a healthier environment.

Grays Harbor: Port Acts to Revitalize a Failed Manufacturing Facility 

The commissioners of the Port of Grays Harbor are taking an innovative approach to revitalizing a shuttered manufacturing facility at the port’s newly acquired Satsop Business Park. 

At its meeting of November 5, the commission authorized Executive Director Gary Nelson to execute a $1.3 million promissory note and enter into an agreement with receiver Pivotal Solutions to purchase the assets of the NewWood facility. 

The commissioners also authorized Mr. Nelson to sign a Letter of Intent (LOI) with NewWood International, LLC, which outlines the terms of a lease and the potential purchase of the equipment and intellectual property. Not associated in any way with the prior tenant, NewWood International is an affiliate of Triventas, a private investment firm based in Pittsburgh (PA), which in June presented itself to the port commission as a potential operator of the facility. 

NewWood Corporation, which has been in insert receivership since November 2012, includes equipment assets located in a port-owned building. Other assets include intellectual property on the process of turning scrap plastics into usable building material. Attempts to find an operator to assume the lease and purchase the assets have been unsuccessful thus far, but the port believes the two-fold approach may solve both issues. 

"After analyzing the risk of the purchase of the assets against the rewards should we succeed in finding a user for the site, my fellow commissioners and I felt the jobs and economic activity created, hedged against the liquidation value of the equipment, mitigated any financial risk to the port," explained Port Commission President Chuck Caldwell. "The facility is the centerpiece of the Satsop Business Park, and the reward of establishing a West Coast manufacturing and distribution hub of a sustainable, innovative recycled product will be jobs for our citizens and increased economic opportunities for our area businesses." 

A component of the Asset Purchase Agreement with Pivotal Solutions is that all equipment be free of liens. One benefit is that personal property taxes owed to Grays Harbor County will be paid from the proceeds of the sale. 

"This approach is the quickest and best way to get the facility up and running, and creating jobs for the region," commented Mr. Nelson. "We are hopeful Triventas will be a good tenant for the facility and bring it into production again in the shortest amount of time possible. Their commitment to success will be a win for all parties." 

The port acquired Satsop Business Park in January 2013. Located in in Elma (WA), about 20 miles east of the port’s marine terminals in Aberdeen and Hoquiam, the 1,800-acre mixed-use business and industrial park is home to more than 30 businesses, offers 600 acres of developed, pad-ready land and buildings with supporting infrastructure.

Toronto Port Authority Investing in Tomorrow Today

The Toronto Port Authority (TPA) supports communities along Toronto’s lakefront by investing in programs that support youth, families and a healthier environment.

"Our financial support to charities and community programs across the city this year has enabled more than 25,000 youth to take part in arts and educational programming," said TPA President and CEO Geoffrey Wilson. "We also have worked hard to create a greener city by removing millions of pounds of material from the harbor and investing $1 million to create a wetland area and fish habitat at Tommy Thompson Park."

Each year, the TPA removes more than 150 million pounds of silt and debris from Toronto Harbor, helping make the waterfront enjoyable and keeping the water safe for boaters. It is working to create a healthier environment by choosing 100 percent renewable Bullfrog Power for all of its facilities. The TPA is also investing in a sustainable waterfront through the creation of the Leslie Street Spit, which has one of the city’s most diverse and thriving ecosystems. 

Additionally, the TPA has pledged over $500,000 in 2013 to Toronto-area charitable and other organizations whose sport, recreation and arts and culture programming fosters stronger, more sustainable communities. They include:

• Canadian Art Foundation 
• Harbourfront Community Centre’s Room 13 program
• Canadian Museum of Inuit Art 
• Disabled Sailing Association of Ontario 
• Harbourfront Centre’s Environmental School Visits program 
• Moorelands Community Services 
• Museum of Contemporary Canadian Art 
• ProAction Cops and Kids 
• TIFF’s Learning and Special Delivery programming 
• Toronto Brigantine 
• Museum of Contemporary Canadian Art 

The TPA also supported important waterfront events such as the Waterfront BIA’s Doors Open on Toronto’s Waterfront and the Redpath Waterfront Festival in 2013. 

For three summers, the TPA has invited Torontonians to enjoy the waterfront at Sail-In Cinema™. This free, three-day festival features classic movies shown on a special two-sided screen anchored in Lake Ontario. Since its inception in 2011, Sail-In Cinema™ has brought more than 10,000 people and hundreds of boats to the newest part of Toronto’s edge.

American Association of Port Authorities
Asociación Americana de Autoridades Portuarias
1201 Maryland Ave SW, Suite 860, Washington, D.C. 20024
E: info@aapa-ports.org
W: www.aapa-ports.org