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Port joins I-695 oppositio, fears adverse effect on tax levy, leases
PORT JOINS I-695 OPPOSITION, FEARS ADVERSE EFFECT ON TAX LEVY, LEASES
Wednesday, October 13, 1999
By CRAIG BROWN, Columbian staff writer
Port of Vancouver commissioners Tuesday became the latest government agency
to publicly oppose Initiative 695, which would cap auto license fees at $30.
Commissioners voted 3-0 to oppose the measure, after hearing that the tax
reduction measure could hamstring the port's tax levy, interfere with leases
and other business agreements, and torpedo Washington's contribution to the
Columbia River channel deepening project.
"This might put us out of the marine terminal business," if it created a competitive
disadvantage for the port over a period of years, mused Commissioner Arch Miller.
At the same meeting, port commissioners voted to make their successors eligible
for a port-funded medical savings account worth about $60 per month, and adopted
a formal policy that any airline frequent flyer miles and awards accrued while
on port business will remain the personal property of commissioners or employees.
Chuck Daughtry, the port's finance director, noted that there is some uncertainty
about how I-695 would apply to specific things such as real estate leases or
dockage fees.
In addition to eliminating the motor vehicle excise tax, the initiative would
require a public vote to approve any change in a government tax or fee.
That could affect the port more than most government agencies, because as
a major landlord the port signs leases and dockage agreements regularly.
Daughtry said the initiative would likely hamper the port's ability to issue
bonds backed by tax revenues, and might result in a downgrading of the port's
credit rating.
The initiative apparently would wipe out the state's ability to issue transportation
bonds that include $10 million for the Columbia River channel project, Daughtry
said.
The state needs to come up with $27.7 million to pay for its share of the
project to deepen the shipping channel by 3 feet to accommodate larger and more
heavily laden ships.
The remaining $17.7 million hasn't been appropriated.
Commissioner Bob Moser said he was opposing 695 for a personal reason, too:
his 1986-model compact car costs only $29 to license now. "I'm not going to
pay more," he joked.
