The Port of Coupeville is working to get a property’s value assessed, a small structure located next to the Coupeville wharf, currently home to the women’s clothing store, Collections Boutique.
During the most recent Port of Coupeville meeting, Commissioner William Bell said he’s had two informal discussions that led to a wide gap in the estimated value for the property. The building’s basement floods, but provides value to the port as a storage space.
Bell recommended that the executive director, Chris Michalopoulos, request a building condition and value assessment and that the port would be in a better position to make any decisions regarding the property. He added that the port must conduct due diligence when seeking an assessment on value and condition.
“If we ever need to solicit funding, like a bond or loan, we need this information,” Michalopoulos said in an email, “and with the rehabilitation of the wharf project coming, as well as the start of our 2019 budget process, we need to understand the funds needed to rehabilitate all or a portion of our assets.”