The port accepted $14,175 for a six month option on the land,which Shirazi can extend another six months for the same fee. Theoption comes with the ability to convert to a 50-year lease.Payments on the lease would be $3,300 per month for the first threemonths and closer to $7,000 per month thereafter. Annual rentescalations would be tied to the consumer price index, with otheradjustments possible following a market analysis ever tenthyear.

The optioned property comes after much of the worry about energyprices has subsided, which in turn has slowed down an otherwisesteady flow of power plant proposals throughout the Northwest.Shirazi didn't return a call seeking comment Wednesday. "I thinkhe's got like four of these things going," Tyler tellsGlobeSt.com.

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