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Kyle Burleson seeking new Congressional port infrastructure & security grants
http://www.portdetroit.com/wp-content/uploads/2019/03/dwcpa_powerpoint_WEB.pdf
The Port of Detroit provides about 14,000 jobs and $1.7 billion in income
http://www.portdetroit.com/wp-content/uploads/2019/03/Great_Lakes_Economic_Impacts_WEB.pdf
INFRASTRUCTURE needed to do serious business via Detroit River
https://www.nicholson-terminal.com/
https://www.nicholson-terminal.com/w...nal-layout.pdf
We need a deep port facility here in the Great Lakes. What has been going on for the past 100 years?
Combat ships built in Wisconsin ? Let's put River Rouge back in operation
for the homeland.
https://www.public.navy.mil/surflant...s/default.aspx
The initiative really does not focus on the military, we have plenty already.
There is zero risk of a sea invasion via the Detroit area. :eek:
https://www.detroityes.com/mb/showth...-Activity-2017
I agree,you guys have some serious go fast boat knowledge going on up there,if they could harness some of that into fast light attack vessels that would help.Quote:
Originally Posted by Bigb23
The port is locked down because of a debt so that debt holder is really holding the strings,they are in a catch 22,so until that is resolved,it is kinda dead in the water,as they say.
Let's be very clear, that "debt holder" is none other than **drumroll** Matty Moroun via the "Ambassador Port Co."
https://www.house.mi.gov/hfa/PDF/Tra...rief_DWCPA.pdf
Quote:
The 2005 Master Concession Agreement is an agreement between the DWCPA and the Ambassador Port Company. The agreement granted the Ambassador Port Company an exclusive concession to operate and manage a port facility in and around the former DMT property. The original concession term wasfrom the date of execution through March 31, 2013.
The agreement provides for three subsequent 25-year extensions at option of the concessionaire, the Ambassador Port Company.The agreement set various financial obligations between the parties, including the execution of a $2.1 million Promissory Note by the DWCPA in favor of the concessionaire. The Promissory Note recognizes money advanced by the Ambassador Port Company to theDWCPA. The DWCPA used the $2.1 million to retire bonds that had been issued related to the DMT property. In effect, retiring the bonds released an encumbrance on the property that allowed DWCPA to acquire title to the property.
How Matty has never been criminally charged with anything after all these years is amazing, quite frankly. And we're still being saddled with this bad deal Kilpatrick made with them back in 2005.Quote:
During its 2004-05 fiscal year, as provided under the Master Concession Agreement, the DWCPA issued a $2.1 million Promissory Note in favor of the Ambassador Port Company. As of September 30, 2017, after 10years and $1.7 million in payments, the Note Payable balance was $2.0 million, 96% of the original Promissory Note.
The DWCPA’s FY 2016-17 financial statements identify revenue generated from the DWCPA’s Master Concession Agreement with the Ambassador Port Company of $187,232; this figure representsa reduction of approximately 9% as compared to $205,720 for FY 2015-16.
Good ol Matty - he's great for the region - IF he paid his share of taxes.
https://www.record-eagle.com/opinion...19140b60e.html
Detroit really needs to utilize its water location more effectively.
I knew that the new Port Authority that was built next to the GM headquarters was going to be underutilized especially under the Snyder Administration. I was said while building the Port Authority that ships from all around was going to dock there including smaller cruise ships. The only ships that had docked there was mostly private yachts and occasional military ship or something. Matty Moroun probably has his money into too many elected official’s wallets and pocketbooks to be indicted or charged. Detroit has always been ass backwards when it come to utilizing it’s natural resources such as the Detroit River for financial gain
Of course Matty paid the Attorney General, it's well documented.
Matty is the Super pacman of the PAC
Well,port authority needed fast cash,at the time not many were interested in investments in Detroit,let alone come up with 2 million cash,otherwise the port would have been lost.
Bottom line, as it stands,anybody can come in and pay off the note and put a couple hundred million into it in order to make it a feesable venture.
But all that would happen is trading one note for another,so it needs the additional funding over and above.
As it stands it does not make any money over the obligations,catch 22,
does not produce revenue and does not have the revenue to update and expand.
It was the same as all of the big downtown buildings at the time.
It is a shame though because it could be a big part in creating diversity.
Port authority is the landlord and it leases space to businesses so it draws revenue from leases and unless they build things that they can lease then they have no revenue.
But really what happened is not different apparently then what is still happening,when you see comments that inside city Council connections prevented a fire station from becoming a restaurant,it would appear that Matty does not play a solo role in shenanigans.
But it is really no different then anywhere else you go,it is what it is.
That is a ridiculous dodge to let his company off the hook. He is almost singularly the current problem with the Port Authority terminal. Literally anyone else would actually do something with it, but like he's done with everything, he's squatting on them waiting for a big pay-off. He doesn't give a damn about the port, and won't give the note over to someone who would give a damn about the port and upgrade it. He's doing exactly what he did with MCS, accept in this case it's even worse because the concessionaire's agreement is for a ridiculous period of time.
Now, the Port for quite a few years, now, has been asking the legislature to expand its function so that it could buy more property to provide revenue from land sales to help them pay off Matty. But no one has taken them up on the request. I do have hope, however, with the new government we got last November, one not bought off or at least much less so than in election cycles past, that we might finally see some movement on this issue. But it shouldn't have taken this long, and I really wish Matty's empire's influence would just go away entirely. His ass needs to get out of the public sphere and worry about doing what it does in the private sector.
No one mentioned Kyle - the guy who executes the strategy of the Port Authority and administers the Federal grant programs. The Port Authority is the primary public conduit between private sector businesses in the Port of Detroit.
^^^ Source for your quote:
http://midtowndetroitinc.org/incenti...ic-development
That is interjecting emotions into buisness transactions.Quote:
Originally Posted by Dexlin
Why would he give the note to anybody,that is his collateral for the money he loaned.
The port needed money,nobody wanted to take the risk because they were not generating revenue in order to pay it back.
No different then you or I going to the bank and wanting to buy a house with no job or money.
So it was high risk and they had the choice except the terms,interest only payments,or shut it down.
If it had been shut down and given the times,it would proably would have been scrapped and destroyed in short order and would have cost in the billions to reopen.
So they did what everybody else was doing at the time,took the note in order to buy time in the hopes that Detroit would recover and revenues would increase.
Even if the legislation agreed to expansion it would still take hundreds of millions in order to purchase the land and improve it,where does that money come from?
If they try and expand under capitalized and fail,default on Mattys note,Matty takes complete possession.
So in who’s best interests are the legislators working for?
I would not hold out to much hope on the new government,the one in Washington that should be lobbying for infrastructure improvements and grants has their own agenda.
Other cities have been expanding,due to grants,their ports for the last five years,the state has to get the money via increased taxes or reimbursement from the feds.
Given what is going on your lobbying representatives should be camping out in the department of transportation office 24/7.
But you still have to show that you have a solid plan and be able to match funds,for the most part they do not just hand over millions on maybes,to high risk.
Confusing symptoms of the disease for the disease is going to go nowhere.
Is there anything in the contract that says the port authority cannot repay the original 2 million?
Because that has been the catch,coming up with the 2 million to clear the debt.
If it was feesable somebody else would have done it already.
You brought up MTS,they are exactly the same case scenarios.
It would not have been feasible to develop MTS as a stand alone project,it takes Not only rehabilitating what is existing but expansion around it in order to make it feasible.
It could also be argued that based on the past history both would have been demolished by now and be cute little parking lots.
So who read anything from the links I originally posted.........
Everyone wants references but few actually want to really read.
https://image.cagle.com/123551/750/123551.png
^ it does not matter,the state supports and dispersed funds and grants,funds collected from taxpayers or grants from the feds.
The east and west coast port grant expansions were based on expansion of existing services,mostly to cover dredging and enlarging or setting up to handle the larger mega cargo ships in order to compete.
This is a scenario of limited or no existing services,they still have to have a plan not based on like a bridge,build it and hopefully they will come.
In your links they are looking for grants to expand an individual buisness located within the port and not actually expanding the port in order to draw more business.
So even if that individual buisness recieves the grants the actual port as a bigger picture does not change,that is what is actually needed.
So addressing 14,000 jobs and $1.7 billion in income is just a drop in the river, no biggie, forget it exists, and carry on as if nothing is there ?
The Port of Detroit covers 32 miles along the Detroit River, more than 25 terminals -- public and privately owned -- and handles 17 million tons of cargo each year.
It's a drop, inconsequential, nothing earth shattering - just forget about it?
Water service ----- versus ------ Rail service
I guess some people actual go on the river, like me, and see it,
from the water side, and many others just drive on the streets.
Perspective, frame of reference, physical interaction, changes viewpoints
https://youtu.be/gZOUjeMe_kk
^ http://www.portdetroit.com/port/
The DWCPA only owns the NT&D Detroit Terminal located in the Delray neighborhood of Detroit. All other marine terminals at the Port of Detroit are privately owned and operated.
You are relating a discussion towards the entire port industry in Detroit when it really boils down to just a small piece of it.
Yes 14,000 jobs and 1.6 billion is a drop in the river compared what it could be.
No restriction on discussion of the Detroit River ports, private or public.
Another part involves U.S. Customs and Border Protection[[CBP).
Inbound/Outbound needs to be cleared for true logistical advantage.
Erickson, a Grand Rapids based project cargo carrier, began construction of its $20 million, state of the art, cargo terminal on the Detroit River adjacent to Fort Wayne.
Erickson began its site improvements on a 17 acre terminal along the Detroit River that had been out of service since the 1980s. In addition,Erickson began working with the James International Group, which owns 21 acres of nearby land that has been dormant for 10 years. Additional adjacent, abandoned property has been identified that could bring the total available to nearly 100 acres. Many of these parcels are already under the control of the City or County Land Banks, while other properties are entering foreclosure proceedings.
GM believes that the Great Lakes can help reduce overall transportation costs, reduce congestion problems and reduce their carbon footprint, until a real world demonstration is conducted these goals are just theoretical. Regarding terminal operations, discharging containers, while not completely foreign to the Port of Detroit, it is not a daily occurrence.
The Port of Detroit is also a significant hub for bulk cargo movement, such as iron ore and coal for US Steel and AK Steel, liquid bulk for Marathon Petroleum and stone for the construction industry.
In regards to the Rouge - According to a preliminary study conduct by the Corps of Engineer,deepening the Federal channel would have a 15 to 1 benefit to cost ratio
The inability to finance facilities, not owned by the Port Authority, has severely limited the ability to assist the maritime industry in Southeastern Michigan.
https://www.michigan.gov/documents/m...t_578070_7.pdf
Michigan would be smart to get off its ass :
Expand the service area of a water taxi and explore the opportunity to use the water taxi for commuter use.
The Michigan Cruising advertisements have begun
https://www.greatlakesnow.org/2019/03/summer-cruising/
There are now 5 separate cruise lines operating 7 ships,
with even more fleet expansions expected in 2020.
https://www.greatlakesnow.org/wp-con...ibe-Canada.jpg
https://greatlakescruising.com/cruis...can-waterways/
https://greatlakescruising.com/wp-co...s-1024x614.png