The Port of Shelton unanimously approved a lower surety for Lynch Creek Farms Tuesday. Lynch Creek leases what used to be a mill at the Port’s John’s Prairie Industrial Park. According to Executive Director Wendy Smith, Lynch Creek has completed substantial work at a substantial cost to them making the site suitable for their needs and that should be considered when determining surety.
The Port Commission agreed with Smith and decided to set surety for Lynch Creek Farms for their current lease with the Port at $37,000 which equals approximately three months rent. Commissioner Dick Taylor:
Under state law (RCW 53.08.085), “Every lease of all lands, wharves, docks, and real and personal property of a port district for a term of more than one year shall have the rent secured by rental insurance, bond, or other security satisfactory to the port commission…”