Port of Shelton Approves Leases with Sims & Belco

The Port of Shelton Commission approved five leases with two companies Wednesday – four with Sims Vibration Laboratory Inc. and one with Belco Forest Products.

The new leases with Sims are for four buildings at the Port’s Sanderson Field Industrial Park: 50 Rose Nye Way; 301 W. Business Park Loop; 161 William White Way; and 121 W. Development Road. Each lease is for one year and each includes six-month surety bond.

The lease with Belco is a two-year extension for non-exclusive use of the Port’s rail spur on John’s Prairie.

Executive Director Wendy Smith and the Port’s Attorney, Skip Houser, explained to the Commission how staff is now taking more time to review lease extensions.

In other news, the Port of Shelton is seeing the benefit of higher interest rates. In May, the Port Commission transferred $500,000 from its checking account to the Local Government Investment Pool (LGIP). At the time, it was estimated the Port would generate $250 a month. However, that transfer has resulted in $1800 of interest earned.