Warehouse will bring big bucks to countyPublished 12:04am Sunday, September 29, 2013
NATCHEZ — The warehouse Adams County purchased in the Natchez-Adams County Port area is projected to generate almost a million dollars next year.
Port Director Anthony Hauer met with the Adams County Board of Supervisors Friday to discuss the port’s proposed budget for fiscal year 2013-2014, and Hauer said after expenses the warehouse could net approximately $400,000 for the port.
“(The balance) will be a cushion until such time as it gets bigger, and we will put it in a certificate of deposit,” Hauer said.
The port director said the numbers for the warehouse projection were based on an average monthly income for the facility, which the port commission has operated since February 2012. Prior to the county’s purchase of the building and its associated acreage in July, Valley National Bank owned it after foreclosing on a previous owner.
“Have we had any buyer’s remorse? Never ever,” Hauer said.
“It is a piece of industrial property that is vital and essential to what we are doing on the river. If not that warehouse, it would have been another one. We didn’t have the storage space down there.”
The county purchased the warehouse property for approximately $2.5 million, and the port authority has an approximately $340,000 annual lease agreement with the county for its use.
The county government uses the lease funds to pay the bond that financed the warehouse purchase.
Hauer said the port would also add $100,000 in payroll in the coming year as five people working in the warehouse come under the port commission’s direct employment.
The port’s proposed budget for 2013-2014 projects $3,414,575 in total income and $2,252,032 in total expenses.