The Port of Camas-Washougal Commission has approved the purchase of land near its Sixth Street property.
The commission voted 3 to 0, April 3, to buy a 10,000 square foot lot at 1111 S. Seventh St., Washougal, from Ron Gustafson, for $190,000.
The purpose of the purchase is to add additional, contiguous port property, according to Port Communications Manager Jack Hardy.
The port will pay $50,000 at closing. Installment payments will be spread over three years beginning with $50,000 in 2013, $50,000 in 2014 and $40,000 in 2015 at an interest rate of four percent.
Hardy said Gustafson wants the payments to be spread over time, in order to reduce capital gains tax.
Port Executive Director Dave Ripp said a house and renter will remain on the lot until the port moves forward with developing the property. The land, zoned highway commercial, is adjacent to 14 acres already owned by the port.
Killian Pacific holds an option to purchase the former Hambleton Lumber Company site at 335 S. “A” St., Washougal. The Washougal City Council has approved a development agreement for the property owned by Hambleton Brothers Lumber Co., Inc. The agreement vests the development site to current uses, regulations and standards for the purposes of planning and permitting a future development project.
The City Council has also approved a development agreement for the port-owned land located south of state Route 14, at Sixth Street.
For more information about the waterfront revitalization planning process, contact the port office at 835-2196 or visit www.portcw.com/index.php/projects/waterfront_revitalization.