Thumbnail photo by Gavin Van Alstine
Two years after the Crescent City Harbor District entered into a settlement agreement with Fashion Blacksmith, the parties negotiated a revision that reduces the district’s payment for this year and divides it into two installments.
Reporting out from a closed session meeting on Wednesday, Board President Rick Shepherd said CCHD will pay a total of $162,500 to its former tenant in two installments of $62,500 and $100,000 this year. The Harbor District was due to pay $362,500 to Fashion Blacksmith, Shepherd said.
According to the agreement, the remaining portion of the CCHD’s payment this year will be amortized over the remaining terms of the settlement agreement, between 2027 and 2034 with 5% interest.
Continue reading Fashion Blacksmith Owner Agrees To Revision That Reduces Harbor District’s Settlement Payment This Year


