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Re: Goldman Sachs, the NCRA and Humboldt Bay
Author: Bit
Date: 06-17-2008 - 16:56
From the Goldman Sachs letter of intent:
"With no ability to fund these improvements through District funds, the new source of private
equity infrastructure funds is the best possible source to fund those improvements going
forward. Since the Railroad is now controlled and operated entirely by NWP Inc. ("NWP") under
a long-term contract with the North Coast Railroad Authority, the District would need to make
arrangements with NWP to jointly offer a long-term concession on the combined Port/Rail
assets. Such a concession would require that the minimum improvements be made to bring the
Port and Rail facilities in full service within three to four years, according to the District's
timetable for construction."
"With no ability to fund these improvements through District funds, the new source of private
equity infrastructure funds is the best possible source to fund those improvements going
forward. Since the Railroad is now controlled and operated entirely by NWP Inc. ("NWP") under
a long-term contract with the North Coast Railroad Authority, the District would need to make
arrangements with NWP to jointly offer a long-term concession on the combined Port/Rail
assets. Such a concession would require that the minimum improvements be made to bring the
Port and Rail facilities in full service within three to four years, according to the District's
timetable for construction."
