Almost five years after selling its shipyard on Swan Island, the Port of Portland has negotiated new terms with shipyard buyer Frank Foti for payment of the $12.5 million he still owes. Under terms of the new agreement, which goes to the Port of Portland Commission for approval Wednesday, two loans are consolidated into a single $12.5 million note that includes principal along with interest accrued as of March 1.
Green Marine
about 21 years ago
Changing times change shipyard deal
Almost five years after selling its shipyard on Swan Island, the Port of Portland has negotiated new terms with shipyard buyer Frank Foti for payment of the $12.5 million he still owes. Under terms of the new agreement, which goes to the Port of Portland Commission for approval Wednesday, two loans
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