COOS BAY -- The Waterfront Development Partnership work group is fine-tuning an intergovernmental agreement it hopes to send to the Community Enhancement Plan work group before the end of the month.
The WDP work group edited the agreement's second draft Wednesday morning, giving the organization's future board a set of expectations. The partnership is proposed to disperse 25 percent of Jordan Cove Energy Project's community service fee payments to economic and waterfront development projects.
Until (and if) those funds start flowing -- which at this point, won't be until 2016 or later -- the agreement asks each partner to chip in at most $5,000 a year in fiscal years 2015 to 2017, but "the partnership shall refund each partner's contributions within 60 days of receiving its first CSF payment from JCEP," according to the draft agreement. The partners would be the Oregon International Port of Coos Bay, Coos County and the cities of Coos Bay and North Bend.
Port CEO David Koch said these "deposits" will fund any expenses the partnership takes on before CSF payments begin, including public records requests, publishing notices, legal fees, etc.
This work group needs to decide how the CSF payments will be distributed and/or invested, which it plans to do at a meeting 3 p.m. Monday at the Port offices.
"It's part of our job to establish some sideboards, understanding that they may be changed in the future (by the board)," said work group member Bob Garcia. "That's going to be the temptation for those boards, is spending community service fee revenues on their immediate needs."
Work group member Crystal Shoji said it would be a good idea to give the future board expectations now, since "there may not be people hounding them, watching them" like there are in local government.