With the LNG Project still up in the air, and a vital land agreement about to run out, the Oregon International Port of Coos Bay renegotiates an extension to property purchase options, with Jordan Cove and Weyerhaeuser.
Opting not to just trigger an automatic six month extension, the three parties agreed to re-work the deal. Among other things, the new agreements provide some new flexibility in terms of the 1,300 acres of land up for sale on the North Spit.
For the same $25 million agreed upon before, the Port can now choose to purchase all the property, or any variation of the five segmented parcels for a lesser fee.