The port accepted $14,175 for a six month option on the land, which Shirazi can extend another six months for the same fee. The option comes with the ability to convert to a 50-year lease. Payments on the lease would be $3,300 per month for the first three months and closer to $7,000 per month thereafter. Annual rent escalations would be tied to the consumer price index, with other adjustments possible following a market analysis ever tenth year.
The optioned property comes after much of the worry about energy prices has subsided, which in turn has slowed down an otherwise steady flow of power plant proposals throughout the Northwest. Shirazi didn't return a call seeking comment Wednesday. "I think he's got like four of these things going," Tyler tells GlobeSt.com.
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